The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell 4.49 million barrels in the week ending May 2. The API reported a 3.76 million barrel inventory hike in the prior week. So far this year, crude oil inventories are up more than 18 million barrels. Gasoline inventories fell in the week ending May 2, by 1.97 million barrels, after falling by 3.14 million barrels in the week prior. Distillate inventories were up this week 2.24 million barrels in the latest week. In the week prior, distillate inventories fell by 2.52 million barrels.