Oil Prices Fall After EIA Confirms Crude Build

Crude oil prices fell today after the Energy Information Administration reported an inventory increase of 2.4 million barrels for the week to April 1. This compared with a draw of 3.4 million barrels for the previous week. A day earlier, the American Petroleum Institute reported an estimated crude oil inventory build of 1.56 million barrels. Prices dipped following the news but quickly recovered. At the time of writing, both Brent crude and West Texas Intermediate were trading with moderate losses since the start of today’s session. In gasoline,…