U.S. crude oil and gasoline inventories fell last week, buoyed by stronger demand and exports, while distillate stockpiles rose, the U.S. Energy Information Administration (EIA) said on Wednesday.

U.S. crude oil inventories declined by 3.2 million barrels as domestic production and imports fell while exports picked up.

The crude oil market rallied a bit in the early part of the Thursday session but have also given back a lot of momentum. While we sit on support in both grades of oil in this analysis, and therefore choppiness is what I expect.