Oil Prices Tumble As Crude Inventories Rise ...Middle East

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Oil Prices Tumble As Crude Inventories Rise
source : OILPRICE ( Middle East ) () 14
Crude oil prices moved further down today after the Energy Information Administration reported a crude oil inventory build of 1.3 million barrels for the week to May 14. This compared with an estimated oil inventory build of a modest 620,000 barrels for the period, as reported by the American Petroleum Institute. It also compared with a draw of 400,000 barrels, as estimated by the Energy Information Administration a week earlier. Analysts had expected an inventory build of 1.68 million barrels for the week to May 14. In gasoline, the EIA reported…

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