Oil Inches Higher After EIA Reports Surprise Crude Draw

Crude oil prices gained today after the Energy Information Administration reported a crude oil inventory draw of 2.1 million barrels for the week to November 12. At 433 million barrels, the authority said, crude oil inventories were 7 percent below the five-year average for this time of year. The reported draw compared with an unexpected build of 1 million barrels for the previous week and analyst expectations of another build, of 1.55 million barrels. In gasoline, the EIA reported an inventory decline of 700,000 barrels for the reporting period,…