USA: drop in crude and gasoline inventories

(CercleFinance.com) - U.
S. crude oil inventories fell again last week, announced the U.S. Energy Information Administration (EIA) on Thursday.

Crude inventories fell by 2.2 million barrels to 420.5 million in the week to October 11, while gasoline stocks also fell by 2.2 million barrels.

Reserves of distillates - which include heating oil, among other products - fell by 3.5 million barrels.

Refinery capacity utilization stood at 87.7%.

Following these statistics, US light crude rose by 0.4% to $70.6 a barrel late Thursday morning on the NYMEX in New York.

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