U.S. crude stockpiles fell 4M barrels last week, API says

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The American Petroleum Institute reportedly shows a larger tan expected draw of 4.0 million barrels of oil in U.S. commercial stockpiles for the week ending October 24.

Gasoline inventories reportedly show a draw of 6.3 million barrels for the week, distillate inventories reportedly show a draw of 4.4 million barrels, while Cushing inventories reportedly show a build of 1.7 million barrels.

The Energy Information Administration is scheduled to release its weekly U.S. petroleum supply report on Wednesday; the average of analysts surveyed by _The Wall Street Journal_ forecast domestic commercial crude stocks fell by 200,000 barrels, gasoline inventories were expected to fall by 1.8 million barrels, and distillate inventories were seen falling by 1.5 million barrels.

WTI October crude oil (CL1:COM [https://seekingalpha.com/symbol/CL1:COM]) recently traded at $60.21/bbl after settling at $60.15/bbl.

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

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