The US Energy Information Administration said on Wednesday that US crude oil inventories fell for the tenth consecutive week in the week ending June 12 as demand rose, pushing total inventories to their lowest level since 1985 as the Iran war continues to destabilize global energy markets.

The administration explained that crude oil stocks, including commercial stocks and those in the strategic oil reserve, fell by 17.2 million barrels to 758.5 ​​million in the aforementioned week, which is their lowest level since March 1985.

The administration stated that crude oil stocks, excluding those in the government emergency reserve, fell by 8.3 million barrels to 418.2 million in the aforementioned week, compared to analysts’ expectations in a Reuters poll of a decline of 4.6 million barrels.

The administration added that crude oil stocks at the delivery center in Cushing, Oklahoma, fell by 1.6 million barrels in the aforementioned week.

The administration said that the rate of crude oil consumption in refineries increased by 230,000 barrels per day.

The data showed that US gasoline stocks fell by 906 thousand barrels during the aforementioned week to 214.2 million barrels, compared to analysts’ expectations in a Reuters poll of a decline of one million barrels.

The data indicated that distillate stocks, which include diesel and heating oil, rose by one million barrels to 103.1 million barrels, compared to expectations of a decrease of 470 thousand barrels.

She said that net US imports of crude oil fell by 241 thousand barrels per day, while US exports of crude oil decreased by 513 thousand barrels to 4.33 million barrels.