Crude oil prices fell today after the Energy Information Administration reported an oil inventory build of 4.3 million barrels for the week to November 6. The authority also reported a 2.3-million-barrel fall in gasoline stocks and a 5.4-million-barrel decline in distillate fuel inventories for the period. The figures compared with a crude oil stock draw of 8 million barrels for the previous week, which pushed prices higher for a day, along with a 1.5-million-bpd build in gasoline inventories and a decline of 1.6 million barrels in distillate fuel inventories. Gasoline production last week rose from the previous week, averaging 9.3 million bpd. Distillate fuel production averaged 4.2 million bpd, down on the week. Refineries processed 13.4 million bpd of crude oil last week, a decline on the previous week, as we move closer to the winter season and even more subdued demand for fuels. The EIA report could shake […]