Investing.com – U.S. crude oil futures were higher in post-settlement trading on Wednesday after the American Petroleum Institute reported an unexpected drop in weekly domestic crude inventories.
the US benchmark, recently traded at $70.67 per barrel after the report, having fallen 0.3% to $70.39 per barrel.
fell by about 10.9 million barrels for the week ended October 11, compared to an increase of 10.9 million barrels reported by the API for the previous week. Economists had expected production of about 3.2 million barrels.
Gasoline inventories fell by about 5.9 million barrels, while distillate inventories – the class of fuels that include diesel – fell by 2.7 million barrels.
The report is expected at 10:30 a.m. EST (1530 GMT) on Thursday.
