U.S. commercial crude oil inventories fell for the third consecutive week, decreasing by 640,000 barrels to 423.4 million barrels in the week ending September 11, according to data released by the U.S. Energy Information Administration (EIA) on Wednesday. This decline was smaller than the market's expectation of a 1.4 million barrel reduction. Meanwhile, gasoline inventories increased by 794,000 barrels, and distillate fuel inventories rose by 1.6 million barrels, both exceeding expectations. Notably, U.S. imports of Venezuelan crude oil during the week were just under 800,000 barrels, marking the highest record this year, with shipments reaching their highest level since 2017, gradually approaching the 1 million barrels/day mark of the late 2010s. The Donald Trump administration is reportedly looking to reach a series of oil agreements with Venezuela to attract capital and boost production.