The U.S. Energy Information Administration (EIA) reported a significant drawdown in the Strategic Petroleum Reserve (SPR) inventory, with a decrease of 378,000 barrels as of March 27. This marks the largest reduction since July 2023. Meanwhile, the commercial crude oil inventory, excluding the SPR, rose by 5.451 million barrels, surpassing expectations of an 814,000-barrel increase and reaching its highest level since June 2023.