Crude-oil futures pared losses Wednesday somewhat after a weekly government report showed a surprise decrease in inventories, but remained under pressure from concerns about the euro-zone.
Oil for November delivery declined $2.11, or 2.3%, to $89.21 U.S. a barrel on the New York Mercantile Exchange. The Energy Information Administration reported a decrease in crude inventories by 2.4 million barrels for the week ended Sept. 21.
Analysts polled by Platts had expected an increase by 1.5 million barrels.
The EIA also reported gasoline inventories down 500,000 barrels, and stockpiles of distillates, which include heating oil, also down 500,000 barrels. The analysts surveyed by Platts had forecast gasoline supplies unchanged and distillates inventories up one million barrels.
