Oil advanced after the Biden administration chose not to make an immediate release of crude from the Strategic Petroleum Reserve, and an industry report showed a decline in U.S. inventories. West Texas Intermediate rose 0.3% after surging 2.7% in the previous session as the White House said it would not announce an SPR release on Tuesday. That decision was influenced by a government forecast that showed the global market will become oversupplied and prices will fall early next year. Separately, the industry-funded American Petroleum Institute reported nationwide crude holdings fell by about 2.5 million barrels last week, although there was a rise at the key storage hub at Cushing, Oklahoma, according to people familiar with the data. An official tally comes later on Wednesday. Oil surged to a seven-year high last month as economies recovered from the coronavirus pandemic and a global energy crisis aided demand, boosting U.S. […]