Crude oil inventories in the United States dropped by 3.9 million barrels in the week that ended July 19, private data from the American Petroleum Institute (API) showed on Tuesday. Meanwhile, reserves in Cushing, Oklahoma, allegedly decreased by 1.6 million barrels. Gasoline stockpiles declined by 2.8 million barrels, while distillate inventories went down by 1.5 million barrels, according to the reported data.