OIL-barrel dlr falls at least 70 after surging nearly 4 DLRS

Oil fell below $ 70 on Thursday, down from its biggest intraday jump since April, because the bulging inventories of distillates tarnished the positive perception and revived the notion that oil prices may have outpaced the demand.
U.S. crude futures fell 63 cents to $ 69.98 a barrel by 1134 GMT, after rising nearly $ 4 on Wednesday.
London Brent crude lost 52 cents to $ 68.55 a barrel.
A surprise drop in gasoline inventories in the United States fired up for Wednesday, which allowed the oil obtained with difficulty a slight profit for the third quarter, strengthening the commodity indexes at large.
The data from the Energy Information Administration of the U.S. government reported a drop of 1.6 million barrels in gasoline inventories in the week ended Sept. 25. The distillates rose 300,000 barrels, but remain at a maximum of 26 years of 171.1 million, before the winter demand.
Crude inventories rose 2.8 million barrels in the same period, more than expected.
"Actually, (the drop in gasoline inventories) demonstrates how the market is based on hope, not on sound analysis of the facts," said analyst David Wech JBC Energy in a research note .