US CRUDE STOCKS FALL AS WTI SURGES PAST $108

US commercial crude oil inventories fell 3.1 million barrels to 412.5 million in the week ending October 16, according to the Energy Information Administration. The draw came as WTI crude jumped to $108.21 a barrel, up from $98.73 a week earlier, a nearly $9.50 move in five trading days. Gasoline stocks also fell 3 million barrels to 205.3 million, while distillates built 1.7 million barrels to 104.3 million. The combination points to tightening physical supply just as prices break higher. $DBO