FX.co ★ US Crude Oil Inventories Fall the Most in 5 Months

US crude oil inventories declined by 9.014 million barrels in the week ended February 13, marking the largest weekly draw in five months and sharply contrasting with market expectations for a 2.1 million barrel build. Stockpiles at the Cushing, Oklahoma delivery hub also fell, down by 1.095 million barrels. Gasoline inventories decreased by 3.213 million barrels, a much larger draw than the anticipated 0.3 million barrels. Distillate inventories—which include diesel and heating oil—dropped by 4.566 million barrels, significantly exceeding forecasts for a 1.4 million barrel decline.