Oil Prices Steady On Minor Crude Draw, Products Build

Crude oil prices stabilized on Wednesday morning after the Energy Information Administration reported an inventory draw of 0.2 million barrels for the week to December 3. The report comes a day after the American Petroleum Institute surprised markets with an estimated crude oil inventory draw of over 3 million barrels that helped push prices higher. In EIA estimates, last week’s draw compares with a modest decline of 900,000 barrels for the first week of December. At 432.9 million barrels, U.S. crude oil inventories remain below the five-year…