Crude Oil Inventories Draw Down, But Oil Products Continue Worrisome Build

Crude oil inventories in the United States fell by 3.6 million barrels during the week ending June 6, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration on positive signs from trade talks between the United States and China. On Tuesday, the American Petroleum Institute (API) reported a drop of 370,000 barrels in U.S. crude oil inventories, with a sizable build in gasoline and distillate stocks.…