Oil Prices Drop As EIA Shows Crude Inventories Continue to Climb

Crude oil inventories in the United States saw a build of 4.1 million barrels during the week ending February 7, according to the U.S. Energy Information Administration. Crude oil prices were trending lower today prior to the crude data release by the U.S. Energy Information Administration after the American Petroleum Institute (API) reported on Tuesday a huge build of 9.043 million barrels in U.S. crude oil inventories. Both the Brent and WTI benchmarks were trading down more than 1%, at $75.93 and $72.15, respectively at 10:16 am, just minutes…