Oil Jumps Despite Crude Inventory Build ...Middle East

Crude oil prices rose today shortly after the Energy Information Administration reported an inventory increase of 5.5 million barrels for the week to February 2. This compared with a build of 1.2 million barrels for the previous week that depressed oil prices. On Tuesday, the American Petroleum Institute estimated crude oil inventories had added a modest 674,000 barrels in the week to February 2, much less than the 2.13 million barrels that analysts expected inventories to have added during the period. In fuels, the EIA…

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