Oil Prices Tick Higher on Crude Inventory Draw

Crude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory decline of 5.1 million barrels for the week to November 29. The change compared with a build of 1.23 million barrels for the week, as estimated by the American Petroleum Institute a day earlier. It also compared with an EIA-estimated draw of 1.8 million barrels for the prior week. The authority also reported builds in fuel inventories for the period. In gasoline, the EIA estimated an inventory build of 2.4 million barrels for the final week…