Oil prices moved higher after the Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 30. In fuels, the inventory moves were mixed. The oil inventory figure compared with a weekly draw of 7.688 million barrels estimated by the American Petroleum Institute a day earlier, and with a moderate build of 100,000 barrels that the EIA reported for the previous week.
Analysts had expected the EIA to report a crude oil inventory decline of 2.19 million barrels for the period. In gasoline, the authority…Oil Moves Higher On Largest Crude Draw Since January
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