Crude oil prices jumped higher today after the U.S. Energy Information Administration estimated inventories in the country had shed 12.5 million barrels in the week to May 19. A day earlier, the American Petroleum Institute had estimated that crude oil inventories in the U.S. had gone up/down by a sizable 6.
7 million barrels, which surprised traders and prompted increased oil buying that boosted prices. A week earlier, the EIA had estimated a crude oil inventory build of 5 million barrels, which, however, failed to…Oil Moves Higher As EIA Reports Huge Crude Draw
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