In a surprise bit of data, the American Petroleum Institute said late Wednesday inventories of crude oil declined 4 million barrels on the week ended Oct. 8. The Washington, D.C.-based trade group also reported gasoline stocks falling 1.9 million, and stocks of distillates down 254,000. The report came a day later than usual due to Monday's Columbus Day and ahead of Thursday's more closely watched data from the Department of Energy, also delayed a day due to the holiday. Analysts expect an increase of 1.5 million barrels for crude-oil inventories, a decrease of 1.6 million barrels for gasoline stockpiles, and a decline of 1.5 million barrels for stocks of distillates.
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