Oil prices recovered a bit on Wednesday morning after the Energy Information Administration reported an inventory build of 1.2 million barrels for the week to June 12. Fuel inventories, however, fell. This compared with a 5.7-million-barrel build for the week before that. Analysts had expected the EIA to report a modest build of half a million barrels for the week to June 12. A day earlier, the American Petroleum Institute reported an inventory increase of 3.86 million barrels. Oil prices have been on the decline over the past couple of days, swung around by fears of a second wave of Covid-19 on the one hand, and expectations that the world’s crude oil oversupply may be starting to inch down. For now, the bearish factors seem to have the upper hand. The EIA’s report may, however, change the sentiment: the authority also reported a gasoline decline of 1.7 million barrels […]