Oil Moves Higher After EIA Confirms Crude Draw

Crude oil prices ticked higher today after the U.S. Energy Information Administration reported an inventory decline of 2.5 million barrels for the week to June 14. The change compared with an inventory build of 2.7 million barrels for the previous week, which pressured prices. In fuels, the Energy Information Administration estimated inventory draws for the week to June 14. Gasoline stocks shed 2.3 million barrels in the week to June 14 signaling a strong start to summer driving season that would inevitably affect oil market…