U.S. crude stockpiles fell 3.7M barrels last week, API says

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The American Petroleum Institute reportedly shows a surprise draw of 3.67 million barrels of oil in U.S. commercial stockpiles for the week ending September 26.

Gasoline inventories reportedly show a build of 1.3 million barrels for the week, distillate inventories show a build of 3 million barrels, and Cushing inventories reportedly show a draw of 693,000 barrels.

The Energy Information Administration will release its weekly U.S. petroleum supply report on Wednesday; the averages of analysts surveyed by _The Wall Street Journal_ forecast domestic commercial crude stocks rose by 300,000 barrels, gasoline inventories were expected to remain unchanged, and distillate inventories were seen falling by 800,000 barrels.

WTI October crude oil (CL1:COM [https://seekingalpha.com/symbol/CL1:COM]) recently traded at $62.49/bbl after settling at $62.37/bbl.

ETF: (NYSEARCA:USO [https://seekingalpha.com/symbol/USO])

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