Draws Across the Board Bolster Oil Prices

Crude oil prices moved higher today, after the Energy Information Administration reported an inventory dip of 2.2 million barrels for the week to October 11. The inventory change compared with a sizable build of 5.8 million barrels for the previous week that pressured oil prices. A day before the EIA released its latest numbers, the American Petroleum Institute estimated an unexpected drop in crude oil inventories that helped prices on their way up. The API said inventories had shed 1.58 million barrels in the week to October 11. Meanwhile, the…