13 Dec, 23

Oil Inches Up on Crude Inventory Draw

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Crude oil prices reversed their decline today, after the U.S. Energy Information Administration reported an estimated inventory draw of 4.3 million barrels for the week to December 8. This compared with a draw of 4.6 million barrels for the previous week, which, however, combined with builds in gasoline and middle distillate inventories to put a lid on prices. A day earlier, the American Petroleum Institute estimated a draw in crude oil inventories of 2.35 million barrels for the week to December 8, along with a robust build in gasoline inventories…

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