A day after the American Petroleum Institute reported yet another inventory build estimate, at close to 10 million barrels, the Energy Information Administration confirmed a build, saying inventories of crude oil in the U.S. had gained another 9 million barrels in the week to April 24. This comes after an inventory build of a massive 15 million barrels for the previous week, itself following a record-breaking weekly addition of 19.2 million barrels for the second week of April. Analysts expected a build of 10.6 million barrels for last week. The EIA also reported a draw of 3.7 million barrels in gasoline, with average daily production of 6.7 million bpd. This compared with an inventory build of 1 million barrels for a week earlier, which was quite modest compared to previous gasoline builds, and an average production rate of 6.2 million bpd. In distillate fuels, the EIA reported an inventory […]