Oil Prices Bolstered By Falling Crude Inventories

Crude oil prices continued up today after the Energy Information Administration reported a crude oil inventory draw of 2.5 million barrels for the week to March 18. This compared with a build of 4.3 million barrels for the previous week, which temporarily arrested the latest oil price rally. In gasoline, the authority reported an inventory draw of 2.9 million barrels for the week to March 18, with production averaging 9.8 million barrels daily. This compares with an inventory draw of 3.6 million barrels for the previous week and average daily production…