Oil Inches Higher after EIA Confirms Crude Inventory Draw

Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory draw of 1.8 million barrels for the week to November 22. The change compared with a draw of 5.9 million barrels for the reported week as estimated by the American Petroleum Institute. It also followed an estimated inventory build of a modest half a million barrels for the previous week.  The partial confirmation of the API estimate will likely push prices higher but it would be countered by fuel inventory changes. In these, the EIA estimated…