US oil inventories shed 3.1 mln barrels last week



US crude oil inventories fell more than expected in the week ended Oct. 28, with gasoline inventories also plummeting during the same period.




Crude oil shed 3.1 million barrels last week, surpassing expectations of a 200,000-barrel drop, data from the US Energy Information Administration (EIA) showed.




US gasoline inventories plunged by 1.3 million barrels during the same week, while distillate stocks gained 400,000 barrels.


 









US Crude & Derivatives Inventories (mln barrels)

Type

Last Year

Last Week

Current

Weekly Change

Crude oil

434.1

439.9

436.8

(3.1)

Gasoline

214.3

207.9

206.6

(1.3)

Distillates

127.1

106.4

106.8

+0.4