Crude oil prices moved lower today, after the U.S. Energy Information Administration reported an inventory increase in crude oil of 10.2 million barrels for the week to December 9. This compared with a draw of 5.2 million barrels for the previous week and an estimated inventory build for last week, as reported by the American Petroleum Institute yesterday. At 424.1 million barrels, U.S. crude oil inventories are 6 percent below the seasonal average for the last five years, the EIA noted in its report. In fuels, the EIA reported builds across the…
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