After hitting a six-year low in September, commercial oil stocks in OECD countries showed a marginal build in October, suggesting that the months of hefty inventory draws globally may be over, the International Energy Agency (IEA) said on Tuesday. In its closely watched Oil Market Report for November, the agency noted that OECD total industry stocks plunged by 51 million barrels in September, with crude oil and middle distillate accounting for most of the declines. Europe led the stock drawdowns in September when total OECD industry stocks stood at 2.762 billion barrels, which was 250 million barrels below the five-year average and the lowest level since the start of 2015, the IEA said. Due to the large global inventory decline in September, benchmark crude oil prices surged by $9 a barrel to fresh highs above $86 a barrel for Brent and $84 per barrel for WTI Crude, the IEA […]