Large Crude Draw Lifts Oil Prices

Crude oil prices ticked up today, after the U.S. Energy Information Administration reported an inventory draw of 6.3 million barrels for the week to September 1. This compared with a massive decline of 10.6 million barrels for the previous week, which brought inventories to the lowest in eight months. In fuels, the EIA estimated an inventory decline in gasoline and a build in middle distillates. In gasoline, the EIA reported an inventory draw of 2.7 million barrels for the last week of August, which compared with a modest 200,000-barrel stock draw…