Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to June 3. This compared with a draw of 1.5 million barrels for the previous week, leaving inventories at 416.8 million barrels, which was some 15 percent below the five-year average for this time of the year.
As a growing number of analysts revise their oil price forecasts upwards, the EIA also reported mixed inventory data for fuels. In gasoline, the EIA estimated an inventory decline of 800,000…EIA Reports Small Crude Build, Gasoline Draw
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