Oil prices recouped some of their latest losses today, after the Energy Information Administration reported a crude oil inventory draw of 3 million barrels for the week to August 20. This compared with a draw of 3.2 million barrels estimated for the previous week, and a moderate 1.62-million-barrel decline in last week’s inventories reported by the American Petroleum Institute. At 432.6 million barrels, the EIA said, crude oil inventories in the country are about 6 percent below the five-year seasonal average. Yet prices continue to be volatile…
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