Oil slipped after hitting a seven-year high following a surprise draw in U.S. crude stockpiles and a robust decline in fuel supplies. Futures in New York edged toward $83 a barrel after advancing more than 1% on Wednesday to settle at the highest level since 2014. U.S. crude inventories fell by 431,000 barrels last week, according to government data, compared with a Bloomberg survey that had forecast a fourth weekly increase. Gasoline and distillate inventories also decreased more than expected. The market has tightened significantly recently as coal and natural gas shortages drive greater crude consumption, underpinning a rally in prices. Saudi Arabia said any extra oil from OPEC+ would do little to tame the surging cost of gas, predicting oil demand may rise as much as 600,000 barrels a day if the northern hemisphere’s winter is colder than normal. “The supply-side slack in oil that emerged during the […]