Crude oil prices jumped higher today after the Energy Information Administration reported a crude oil inventory decline for the last week of 2019. The draw totaled an impressive 11.5 million barrels. Analysts had expected a decline of 3.167 million barrels, after the EIA reported a draw of 5.5 million barrels for the week to December 20. At 429.9 million barrels, U.S. crude oil inventories are at the five-year seasonal average. In gasoline the EIA reported an inventory increase of 3.2 million barrels for the week to December 27, up from a 2-million-barrel build for the previous week. Gasoline production averaged 10.2 million barrels daily during the period, compared with 10.3 million bpd a week earlier. In distillate fuels the authority estimated an inventory increase of 8.8 million barrels, which compared with a decline of 200,000 barrels a week earlier. Distillate fuel production averaged 5.3, compared with 5.4 million bpd […]