Large Crude Inventory Build Rocks Oil Prices

Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26. This compared with a substantial draw of 6.4 million barrels for the previous week that pushed prices temporarily higher last week. In gasoline, the authority reported an inventory rise of 300,000 barrels for last week, which compared with a modest draw of 600,000 barrels for the week before. Gasoline production averaged 9.4 million barrels daily in the week to April…