Oil Ticks Up On EIA Inventory Data Report ...Middle East

Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory draw of 5.9 million barrels for the week to December 16. At 418.2 million barrels, U.S. crude oil inventories remain some 7 percent below the five-year average for this time of the year. The latest draw follows a weekly addition of 10.2 million barrels for the previous week—one of the biggest weekly increases in inventories this year. In gasoline, the Energy Information Administration estimated an inventory build of 2.5 million barrels…

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