Oil Prices Fall Following Large Fuel Inventory Build

Crude oil prices fell slightly today after the Energy Information Administration reported an inventory decline of 5.2 million barrels for the week to June 4. A day earlier, the American Petroleum Institute had reported an inventory draw of over 2.1 million barrels for the period. Analysts had expected the EIA to report an inventory draw of 3.576 million barrels, after last week the EIA estimated inventories had shrunk by over 5 million barrels for the last full week of May. Oil has been trending higher again this week, with Brent returning to over…