US Crude Stocks Fall 2.09 Million Barrels in Week Ended Oct. 2, API Reports

U.S. commercial crude oil inventories dropped by 2.09 million barrels for the week ended October 2, according to data from the American Petroleum Institute. The drawdown reversed a 1.019 million barrel build recorded in the previous week, arriving despite an 800,000-barrel release from the Strategic Petroleum Reserve. Gasoline supplies declined by 1.37 million barrels to stand 7% below the five-year seasonal average, while distillate inventories rose by 461,000 barrels. Following the report, WTI crude gained 0.31% to $89.71 per barrel and Brent crude climbed 0.62% to $100.90 per barrel ahead of official EIA figures.