Crude oil prices rose today after the Energy Information Administration reported a crude oil inventory draw of 4.5 million barrels for the week to July 22. This compared with a modest inventory decline of 400,000 barrels for the previous week. It also compared with an estimated crude oil inventory draw of 4 million barrels for last week, as reported by the American Petroleum Institute.
At 422.1 million barrels, U.S. crude oil inventories are about 6 percent below the average for this time of the year. In gasoline, the authority estimated an inventory…EIA Inventory Report Pushes Oil Prices Higher
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