US Crude Inventories Drop 9.1 Million Barrels, Beat Expectations

US crude inventories fell 9.1 million barrels in the week ending May 15, significantly exceeding the expected 3.4 million barrel draw. This follows a 2.188 million barrel decline the previous week, though inventories remain 26 million barrels higher year-to-date. The larger-than-expected inventory draw could strengthen USD against commodity-linked currencies like CAD and NOK. Oil price movements from inventory changes often impact energy-exporting nations' currencies and broader USD sentiment.