Oil Jumps on Fuel Inventory Draws

Crude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory build of 2.1 million barrels for the week to November 8. In fuels, however, inventories fell. At the time of writing, Brent crude was trading at $72.75 per barrel, with WTI at $68.89 per barrel, both up from opening. The crude oil inventory change compared with a build of the same size for the previous week, which pressured oil prices at the time. A day earlier, the American Petroleum Institute had reported an unexpected but modest draw in…