Crude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory dip of 700,000 barrels for the week ending July 14, falling to 457.4 million barrels—a figure that is 1% above the five-year average for this time of year. This compared with an inventory build of 5.9 million barrels for the previous week. In gasoline, the EIA estimated an inventory draw and in middle distillates, it reported an inventory rise. Gasoline stocks declined 1.1 million barrels in the week to July 14, with…
