Data from the U.S. Energy Information Administration Wednesday showed that domestic crude supplies fell by 2.4 million barrels for the week ended Oct. 27. That was bigger than the forecast for a decline of 1.4 million barrels from analysts surveyed by S&P Global Platts. The American Petroleum Institute on Tuesday reported a 5.1 million-barrel decline. Gasoline stockpiles dropped by 4 million barrels for the week, while distillate stockpiles fell 300,000 barrels, according to the EIA. The S&P Global Platts survey forecast drops of 1.7 million barrels for gasoline and nearly 2.5 million barrels for distillates. December crude was up 34 cents, or 0.6%, from Tuesday to $54.72 a barrel on the New York Mercantile Exchange. It was still set to finish at a more than two-year high, but traded below the $55 level it was at before the supply data.
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