US says oil inventories declined but not as much expected

NEW YORK – Oil prices are falling on a government report that crude inventories are declining less than expected.

The Energy Information Administration said Thursday that inventories fell by 2.2 million barrels last week. S&P Global Platts had forecast a decline of 2.6 million barrels.

Benchmark U.S. crude is down $2.19, or 4.6 percent, to $45.24 a barrel in afternoon trading on the New York Mercantile Exchange. Brent crude, the international price, is down $2.18, or 4.5 percent, to $46.62.