Crude oil price moved higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 15. This compared with an inventory increase of 9.4 million barrels for the previous week, which, however, failed to move prices in any significant way.
A day earlier, on Tuesday, the American Petroleum Institute estimated a crude oil inventory draw of close to 4.5 million barrels. At 413.7 million barrels, the EIA said, inventories were 15 percent below the five-year average for this…Large Crude Draw Sends Oil Prices Higher
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