EIA Says US Crude Inventories Down Nearly 9 Million Barrels

Crude oil inventories in the United States saw a decrease of 8.6 million barrels during the week ending October 9, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The decrease brings commercial stockpiles to 415.6 million barrels, according to government data, which is now 3% above the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had fallen by 11.12 million barrels in…