Crude oil prices inched higher today after the Energy Information Administration reported a crude oil inventory draw of 7.9 million barrels for the week to July 9. The report was delayed due to a technical issue, per MarketWatch . Last week’s inventory decline compared with a draw of 6.9 million barrels for the previous week and an estimated decline of 4 million barrels, as reported by the American Petroleum Institute on Tuesday. At the time of writing, Brent crude was trading at $ 76.15 a barrel and West Texas Intermediate was trading at $74.79 a barrel, both down from opening as Saudi Arabia and UAE agreed on the extension of OPEC+ production cuts until end-2022, with UAE allowed to up production. In gasoline, the authority estimated a stock build of 1 million barrels for the week to July 9, which compared with significant draw of 6.1 million barrels reported […]