Crude nearly erased all losses after a U.S. government report showed inventories at the nation’s key storage hub in Oklahoma declined. Stockpiles at the Cushing site declined for a sixth straight week to the lowest level since late March. Gasoline and distillate inventories also fell, signaling a slight pick-up in demand during the summer driving season with coronavirus-led lockdowns easing in some parts of the country. Despite the mostly bullish data set, overall crude stockpiles in the U.S. rose last week.