Crude Build Puts The Brakes On The Oil Price Rally

Crude oil prices retreated today after the Energy Information Administration reported an inventory build of 4.3 million barrels for the week to October 22. This compared with a modest draw of 400,000 barrels for the previous week and analyst expectations for a build of 1.65 million barrels. Gasoline stocks were down by 2 million barrels, the EIA also said, with production slightly up on the previous week. This compared with an inventory draw of 5.4 million barrels for the previous week, with production averaging 10.1 million bpd. In middle distillates,…