Oil Ticks Lower on Crude Build

Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory build of 1.2 million barrels for the week to January 26. This compared with a substantial draw of 9.2 million barrels for the previous week. A day earlier, the American Petroleum Institute estimated another inventory draw, at 2.5 million barrels, for the week to January 26. This significantly exceeded analyst expectations for a much smaller draw, at 867,000 barrels. In fuels, the Energy Information Administration reported mixed inventory changes…