US API heating oil inventories for the week to Oct. 16 fell 169,000 barrels; prior week down 70,000 barrels.

Japan's exports rose 16.7% YoY in September, driven by stronger chip and auto shipments, the Finance Ministry said Wednesday, below economists' median forecast of 21.3%. Imports rose 18.9% YoY versus a 20.4% forecast. The non-seasonally-adjusted trade deficit narrowed to ¥536bn in September (about $3.4bn) from a ¥1.1trn shortfall in August. Exports to the US climbed 22.9% YoY and to the EU 10.5%. Crude import value surged 51% YoY as sustained high international oil prices amid Middle East tensions lifted Japan's oil bill.

Ukraine's President Zelenskiy said Ukraine wants peace more than anyone and that Russia instigated the war.