25 Oct, 23

Oil Ticks Lower On Inventory Build

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Crude oil prices inched down today after the Energy Information Administration reported an inventory increase of 1.4 million barrels for the week to October 20. This compared with an inventory draw of 4.5 million barrels for the previous week. A day before the EIA’s report came out, the American Petroleum Institute estimated inventories had declined by 2.7 million barrels in the week to October 20. It also reported a sizeable gasoline inventory draw that helped push prices higher. According to the EIA, gasoline stocks added a modest 200,000…

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