Crude oil prices moved higher today after the U.S. Energy Information Administration reported a decline in inventories for the week to August 16. Those shed 4.6 million barrels over the period, compared with a build of 1.4 million barrels that surprised traders last week. On Tuesday, the American Petroleum Institute reported another unexpected inventory increase, but a moderate one, at 347,000 barrels.
In fuels, the EIA also estimated draws in inventories. Gasoline inventories fell by 1.6 million barrels over the week to August 16, which compared…Oil Ticks Higher as EIA Reports Inventory Draws Across the Board
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