With oil prices at multi-week highs thanks to reports from OPEC and demand outlook, some more good news is always appreciated but the EIA has refused to play along, reporting a build of 900,000 barrels in crude oil inventories for the week to October 20. The authority also reported a decline in gasoline stockpiles for the period, of 5.5 million barrels, which was only to be expected as refinery maintenance season begins and production declines. Even without the element of surprise, however, market participants seem to welcome every news report of any sort of inventory decline with enviable enthusiasm, suggesting the bullish sentiment is still strong. Yesterday, for example, after the API reported a draw of 5.75 million barrels in gasoline stockpiles, versus analyst expectations of a 2.3-million-barrel decline. This decline, again, is more likely a result of lower refinery activity than an increase in production but traders are […]