04:01 PM EDT, 05/29/2025 (MT Newswires) -- Commercial crude stockpiles in the US fell more than expected last week as motor gasoline and distillate fuel posted draws, government data showed Thursday.

Inventories of crude, excluding the strategic petroleum reserve, fell by 2.8 million barrels to 440.4 million barrels through the week ended Friday, the Energy Information Administration said. The consensus was for a draw of 1.8 million barrels in a survey compiled by Bloomberg.

Total motor gasoline stocks were down by 2.4 million barrels, while distillate fuel inventories dropped by 700,000 barrels. Propane and propylene added 2 million barrels. Total commercial petroleum inventories fell 700,000 barrels.

Both gasoline and distillate fuel output increased last week, the EIA said.

West Texas Intermediate crude oil slid 1.4% at $60.97 a barrel in Thursday late-afternoon trade, while Brent was down 1.5% at $63.39. Earlier in the day, the two measures advanced as the US Court of International Trade on Wednesday ruled that President Donald Trump overstepped his authority by imposing duties under the International Emergency Economic Powers Act.

A federal appeals court on Thursday temporarily paused that ruling.

Meanwhile, sanction risks against Russia have increased, while markets appear to be losing hope about a nuclear deal between the US and Iran, ING Bank said in a note.

Investors await a meeting on Saturday among the Organization of the Petroleum Exporting Countries and its allies, or the OPEC+, where it would decide on output levels for July, ING Head of Commodities Strategy Warren Patterson said.

"We're assuming the group will agree on another large supply increase of (411,000 barrels per day)," Patterson said. "We expect similar increases through until the end of the third quarter, as the group increases its focus on defending market share."