Oil Shoots Up On Huge Crude Inventory Draw ...Middle East

Crude oil prices moved further up today after the U.S. Energy Information Administration reported a crude oil inventory decline of 12.6 million barrels for the week to November 25. At 419.1 million barrels, oil inventories are 8 percent below the five-year average for this time of the year. Last week’s inventory move compared with a draw of 3.7 million barrels estimated for the previous week. In fuels, the EIA estimated inventory builds. Gasoline inventories added 2.8 million barrels in the reporting period, with production averaging 9.4…

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