U.S. crude oil stockpiles fell by nearly 10 million barrels last week, far more than expected, as refineries processed the most crude oil since January, the Energy Information Administration said on Wednesday. Crude inventories fell by 9.5 million barrels in the week to July 5, compared with analysts’ expectations for a decrease of 3.1 million barrels. Stocks have now fallen for four consecutive weeks, according to the EIA, and this week’s official data follows similar industry estimates from the American Petroleum Institute on Tuesday, which showed a large drop in stocks of 8.1 million barrels. “The inventory draw was much stronger than expected and also exceeded the already huge draw reported by the API yesterday. This should push oil prices even higher,” said […]