The Energy Information Administration reported today that the US crude inventories fell 400K barrels to 426.5 million barrels during the past week, while analysts forecast a rise by 2 million barrels.

Gasoline stocks fell 5.4 million barrels to 217.7 million barrels, and the distillate stocks fell 3.9 million barrels to 125.4 million barrels.

While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories rose 3.3 million barrels during the same period.

Most of the US stock indices opened higher on Wednesday, amid anticipation of more quarterly earnings reports, but the Netflix stock fell despite its upbeat earning results.

The White House revealed a plan to vaccinate children from 5 to 11 years old against the coronavirus.

The US Food and Drug Administration fully approved the Pfizer-BioNTech Covid-19 vaccine, after clinical tests proved its safety for use, and the vaccine was also tested on children and proven safe.

Netflix stock fell 1.7% to $627.9 as of 14:16 GMT, despite the company's announcement of more new subscribers in the third quarter, and profits and revenues that topped analysts' expectations.

As for stocks, Dow Jones rose 0.3% or 104 points to 35,561 as of 14:18 GMT, and S&P 500 rose 0.3% or 13 point to 4,533, while Nasdaq rose 0.1% or 20 points to 15,149.

Nickel prices rose on Wednesday, as the US dollar held against most major currencies, thanks to the recovery in global demand for metals and commodities.

Commodity prices rose recently thanks to the global economy's gradual recovery from the coronavirus pandemic, which leads to increased spending and demand, and causes high inflation rates.

The rising prices led to a spike in inflation in the US and Europe led their central banks to hint at reducing the pandemic quantitative easing and asset purchases programs.

Nickel, palladium and platinum are linked with the auto industry, and their prices received support after many companies started to work on the shortage of electronic chips.

The dollar index fell against a basket of major currencies by less than 0.1% to 93.7 points as of 13:42 GMT, after hitting a high of 93.8 points and a low of 93.6 points.

Nickel spot prices rose 1.1% to $20,222 per tonne as of 13:52 GMT.

Oil prices continued to fall as the US market opened on Wednesday, and pulled back from multi-year highs, to head for the second daily loss in 3 days, weighed down by a build in US crude inventories, according to the American Petroleum Institute's preliminary data, and ahead of the Energy Information Administration's official report later today.

US crude fell 1.25% to $81.40 a barrel, after opening at $82.43, and hit a high at $82.58, and Brent crude fell 1.3% to $84.04 a barrel, after opening at $85.16, and hit a low at $85.22.

The US crude gained 0.2% yesterday, and Brent crude rose 1.2%, thanks to expected rise in global demand.

The US crude hit a 7-year high at $83.85 on Monday, and Brent crude hit its 3-year high of $86.02, due to concerns over a market deficit during the fourth quarter of this year.

The American Petroleum Institute reported in preliminary data that the US crude inventories rose 3.3 million barrels to 432 million barrels during the week ending October 15, which is the highest level since the week ending August 27, while analysts forecast a rise by 2 million barrels.

The US Energy Information Administration's official data will be released later today, amid forecasts for inventories to rise by 2.1 million barrels.

While the US output rose 100,000 barrels last week, with the total at 11.4 million barrels per day, which is the highest level since the week ending August 27.