Combined EIA crude and product inventories dropped over the week ending May 3 by 4.6MM bbl to 818.4MM bbl. Crude oil stocks skidded 4.0MM bbl to 466.6MM bbl, pulling back from the previous week's surge to the highest in more than a year and a half and surprising analysts who had expected a 1.2MM-bbl build. The build was due in part to a decline in imports. On the other hand, crude stocks held at the NYMEX WTI delivery site of Cushing, Oldahoma rose 821K bbl to 46.0MM bbl.
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