Oil Prices Inch Lower On EIA Crude Inventory Report

Crude oil prices fell slightly today after the Energy Information Administration reported a crude oil inventory draw of 1 million barrels for the last week of January. Fuel inventories were mixed. A day earlier, the American Petroleum Institute estimated crude oil inventories had fallen by 4.26 million barrels in the reporting period. The EIA estimate compared with a build of 4.4 million barrels reported for the third week of January and analyst expectations for a modest build of 367,000 barrels. In gasoline, the EIA reported a build of 4.5 million…