Oil Steady as EIA Confirms Crude, Gasoline Draws

The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up. The figures compared with a crude oil inventory build of 1.4 million barrels for the previous week, with substantial declines in both gasoline and middle distillates for that week. A day before the EIA released its report, the American Petroleum Institute reported inventory draws across both crude and fuels, pushing oil prices higher on Tuesday.…