U.S. Oil Inventories See Broad Declines, Sending Prices Higher

Crude oil inventories in the U.S. fell by 4.383 million barrels for the week ending October 13, countering the prior week's large increase.

Gasoline inventories fell by 1.578 million barrels, partially offsetting the previous week's build.

Distillate inventories also declined by 612,000 barrels, adding to the prior week's drawdown.

Cushing inventories fell by 1.005 million barrels, leaving stocks at the lowest since 2014.

The declines across crude oil, gasoline, distillates and Cushing inventories sent oil prices higher.