Oil Prices Fall After EIA Reports Crude Inventory Build

Crude oil fell today after the Energy Information Administration reported an inventory build of 1 million barrels for the week to November 5. This compares with a build of 3.3 million barrels for the previous week and analyst expectations of a build of 1.9 million barrels. At 435.1 million barrels, the EIA said, crude oil inventories were 7 percent below the five-year average for this time of year. In fuels, inventory movements included a draw in gasoline and another one in middle distillates. In gasoline, the authority estimated inventories had…