US Crude Oil Inventories Decline Unexpectedly

Crude oil inventories in the United States declined last week, against market expectations, data by the U.S. Energy Information Administration (EIA) showed on Wednesday.

A decline of 800,000 barrels in the week that ended on November 20 means that crude stockpiles now stand at 488.7 million barrels.

Meanwhile, gasoline inventories increased by 2.2 million barrels to 230.2 million barrels, while distillate stockpiles fell by 1.4 million barrels during last week to 142.6 million barrels.