EIA: US crude oil stocks fall more than expected

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The US Energy Information Administration (EIA) reported that US crude oil stocks fell by 4.4 million barrels last week, while analysts had expected a decline of only 400,000 barrels. Crude oil stocks at Cushing, Oklahoma, the delivery point for US crude oil futures, increased by 80,000 barrels. Gasoline stocks fell by 1.2 million barrels, less than the 1.9 million barrel decline analysts had anticipated. Distillate stocks, which include heating oil and diesel, rose by 796,000 barrels, contrary to analysts' expectations of a 1.3 million barrel decrease.

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