The Energy Information Administration on Wednesday reported that U.S. crude inventories fell by 5.4 million barrels for the week ended Nov. 11. On average, analysts forecasted a decline of 400,000 barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA, however, showed weekly inventory increases of 2.2 million barrels for gasoline and 1.1 million barrels for distillates. The analyst survey had called for decreases of 800,000 barrels for gasoline and 500,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub fell by 1.6 million barrels for the week, the EIA said. December West Texas Intermediate crude CLZ22 was down $1.92, or 2.2%, at $85 a barrel on the New York Mercantile Exchange. It was at $85.02 before the supply data.
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