U. S. EIA: Crude oil stocks decline by 0.4 million barrels

Commercial crude oil inventories in the US fell by 0.4 million barrels in the week ending October 15.

The U. S. Energy Information Administration’s weekly report was out on Wednesday. This reading comes in much lower than the market’s expectation for an inventory build of 1.8 million barrels.

Crude oil prices tipped higher after the weekly report had been published. WTI crude oil touched daily low of $80.77 per barrel, earlier in the session, was last seen trading at $82.45, where it was still down by 0.7% during the day’s session.