Crude oil prices recovered somewhat on Wednesday morning after the Energy Information Administration reported an inventory draw of 4.6 million barrels for the week to December 10. At 428.3 million barrels, crude oil inventories remain 7% below the five-year average. Last week’s draw compares with a modest 200,000-barrel decline in crude oil inventories for the previous week. On Tuesday, the American Petroleum Institute estimated a crude oil inventory draw of 815,000 barrels for the week to December 10. In fuels, the agency reported draws. Gasoline inventories shed 0.7 million barrels in the reporting period, which compared with a build of 3.9 million barrels for the previous week. Gasoline production averaged 10.0 million bpd, compared with 9.6 million bpd in the previous week. In middle distillates, the EIA estimated an inventory decline of 2.9 million barrels for the week to December 10, which compared with an increase of 2.7 million […]