EIA Reports Significant Build in Oil and Fuel Stocks ...Middle East

Crude oil prices moved lower today after the U.S. Energy Information Administration reported an estimated inventory increase of 2.9 million barrels for the week to December 15. This followed a weekly inventory decline of 4.3 million barrels for the previous week. The estimate also came out a day after the American Petroleum Institute reported its own inventory estimate, which saw oil stocks adding close to a million barrels over the week to December 15. In fuels, the EIA estimated inventory builds. Gasoline inventories added 2.7 million barrels…

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