WASHINGTON (dpa-AFX) - Crude oil inventories in the U.S. fell by much more than expected in the week ended October 9th, according to a report released by the Energy Information Administration on Thursday.
The EIA said crude oil inventories tumbled by 8.6 million barrels last week after falling by 3.2 million barrels in the previous week. Economists had expected crude oil inventories to edge down by 0.3 million barrels.
At 415.6 million barrels, U.S. crude oil inventories are 3 percent below five-year average for this time of year, the report said.
The report also said distillate inventories, which include heating oil and diesel, decreased by 2.5 million barrels last week and are 12 percent below the five-year average for this time of year.
Meanwhile, the EIA said gasoline inventories increased by 3.5 million barrels last week but remain 4 percent below the five-year average for this time of year.
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