U.S. Crude Oil Inventories Unexpectedly Decrease By 3.2 Million Barrels

(RTTNews) - A report released by the Energy Information Administration on Wednesday showed an unexpected decrease in U.S. crude oil inventories in the week ended October 2nd.

The EIA said crude oil inventories fell by 3.2 million barrels last week after inching up by 0.9 million barrels in the previous week.

At 424.1 million barrels, U.S. crude oil inventories are still 1 percent above five-year average for this time of year, the report said.

Meanwhile, the EIA said gasoline inventories crept up by 0.4 million barrels last week but remain 6 percent below the five-year average for this time of year.

The report also said distillate inventories, which include heating oil and diesel, were unchanged last week and are 12 percent below the five-year average for this time of year.