Oil Prices Tick Lower After EIA Reports Crude Draw, Gasoline Build

Crude oil prices fell slightly after the Energy Information Administration reported yet another inventory draw, of 3.5 million barrels, for the week to September 17. This compared with a hefty draw of 6.4 million barrels for the previous week and an estimated 6.1-million-barrel inventory decline for the week to September 17, as reported by the American Petroleum Institute. The latest inventory movements are probably related to the damage Gulf Coast refineries suffered from Hurricane Ida, meaning they do not necessarily reflect any major changes…