Oil Moves Higher on Fuel Inventory Draws

Crude oil prices rose today after the Energy Information Administration reported an inventory build of 3.2 million barrels for the last week of March. The authority also estimated draws in both gasoline and middle distillates. This compared with an oil inventory build of 3.2 million a week earlier, which pushed prices lower at the time. It also compared with an inventory draw of 2.3 million barrels as estimated by the American Petroleum Institute earlier this week. Gasoline inventories, however, shed 4.3 million barrels…