EIA Shows US Crude Oil Inventories Continue To Slide

Crude oil inventories in the United States saw a decrease of 2 million barrels during the week ending May 2, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading down prior to the crude data release by the U.S. Energy Information Administration. On Tuesday, the American Petroleum Institute (API) reported a sizeable build in US crude oil inventories of 4.49 million barrels in U.S. crude oil inventories with draws in gasoline and distillate stocks. At 11:01 am in New York, the…