According to the United States Energy Information Administration (EIA), US crude oil inventories unexpectedly increased during the week ending October 18, significantly exceeding analysts' expectations. International crude oil prices fell on October 23.

West Texas Intermediate (WTI) crude for December delivery decreased by US$0.97 (1.35%), reaching US$70.77/barrel on the New York Mercantile Exchange.

Brent crude for December delivery fell by US$1.08 (1.42%), settling at US$74.96/barrel.