Crude oil inventories in the United States fell by 3.9 million barrels for the week ending July 19, according to The American Petroleum Institute (API). For the week prior, the API reported a 4.44 million barrel draw in crude inventories. This week marks the fourth week in a row of API-estimated inventory draws for crude oil, for a total loss of 19.4 million barrels during that time. Gasoline inventories also fell last week, by 2.8 million barrels, more than offsetting last week’s 365,000-barrel increase.