US crude inventories tumble 12.5 million barrels as refinery inputs, exports remain strong

US crude inventories fell 12.5 million barrels the week ended May 19 as refiners continued to boost runs while export demand remained strong, US Energy Information Administration data showed May 24. Analysts polled by S&P Global Commodity Insights had expected crude inventories to decline on average by 500,000 barrels, although the American Petroleum Institute late May 23 reported a 6.8…