U.S. Crude Oil Stocks Decline By More Than Expected

The Energy Information Administration announced a decrease of 2 million barrels in U.S. crude inventories last week, bringing the total to 445 million barrels. Analysts had projected a smaller decline of 1.2 million barrels.

Gasoline stocks dropped by 3.3 million barrels to reach 230.8 million barrels, while distillate stocks increased by 0.6 million barrels to 118.5 million barrels.