Data from the U.S. Energy Information Administration showed that domestic crude supplies fell by 4.4 million barrels for the week ended May 19. That was the seventh weekly drop in a row reported by the EIA. The American Petroleum Institute late Tuesday reported a fall of 1.5 million-barrel, according to sources, while analysts polled by S&P Global Platts forecast a fall of 2.8 million barrels. Gasoline stockpiles declined by 800,000 barrels, while distillate stockpiles were down 500,000 barrels last week, according to the EIA. July crude traded at $51.58 a barrel, up 11 cents, or 0.2%, on the New York Mercantile Exchange. It traded at $51.51 before the supply data.
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