Oil Jumps On Significant Crude Draw

Crude oil prices rose further today after the Energy Information Administration reported a 7.4-million-barrel draw/build in inventories for the week to June 11. In fuels, the authority reported mixed inventory changes. Yesterday, the American Petroleum Institute estimated a crude oil inventory draw of 8.537 million barrels for the period, which sent prices even higher. For the previous week, the EIA had reported an oil inventory draw of 5.2 million barrels, with gasoline inventories, however, adding 7 million barrels and middle distillate inventories…