US oil inventories fall, miss forecasts

The US oil inventories fell, missing expectations for the week ended October 11.
 

Data from the US Energy Information Administration revealed today, Oct. 17, that commercial oil inventories decreased by 2.2 million barrels over the past week, while expectations had indicated an increase of 1.8 million barrels.
 

Meanwhile, gasoline stocks decreased by 2.2 million barrels, and distillate stocks – which include diesel and heating oil – dropped by 3.5 million barrels.