A day after a data-driven spike, crude oil prices reversed course in early Friday trading as Russia’s energy minister pushed production talks off the table. Data from the U.S. Energy Information Administration published Thursday show U.S. crude oil inventory levels posted their largest decline since 1999, in part because of closures to shipping channels in Houston and production idling in response to Tropical Storm Hermine. Oil spiked after the data release, though movements tapered off later in the day. Analysis from S&P Global Platts said the “massive” drop was likely a one-off event in a week that would normally see some indication of declining demand. “While the summer driving season ended on a bullish note, it […]