Oil Falls After EIA Confirms Small Crude Inventory Build

Crude oil prices dipped today after the U.S. Energy Information Administration reported an inventory build of 500,000 barrels for the week to November 15. At the time of writing, Brent crude was trading at $73.26 per barrel, with WTI at $69.50 per barrel. The change compared with a build of 2.1 million barrels for the previous week, and another one, of 4.75 million barrels, estimated by the American Petroleum Institute for the week to November 15. Both last week’s EIA report and this week’s API report saw declines in fuel inventories,…