06 Dec, 23

Oil Falls on Mixed Inventory Changes in Crude, Fuels

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WTI oil prices held just above $70 today after the U.S. Energy Information Administration reported a crude oil inventory draw of 4.6 million barrels for the week to December 1. A sizeable inventory build in gasoline and a smaller one in distillates, however, offset the crude draw. The crude inventory draw followed a weekly estimated inventory build of 1.6 million barrels for the previous week. A day before the EIA released its latest estimate, the American Petroleum Institute reported its own estimate showed an inventory build in crude oil and…

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