Crude oil prices inched higher after the Energy Information Administration today reported a draw in U.S. crude oil inventories of 4 million barrels for the week to May 3. This compared to a hefty 9.9-million-barrel inventory build last week, which pressured prices substantially, adding to already significant pressure from rising production in the U.S. and elsewhere that countered concern about lost Iranian supply.
EIA Crude Draw Arrests Oil Price Crash
