A day after the American Petroleum Institute gave oil bulls a cold shower by reporting a 933,000-barrel build in crude oil inventories on top of a gasoline build, the Energy Information Administration deepened the gloom by reporting a 3-million-barrel build for the week to February 23. Analysts had expected the EIA to report a 1.2-million-barrel build in crude oil inventories, so the actual figure is likely to be felt as a slap in the face for many. Gasoline stockpiles were also up, by 2.5 million barrels. That compares with a 300,000-barrel build in the previous week. Production averaged 9.4 million bpd in the week to February 23, down from 10.1 million bpd a week earlier. Refineries operated at 87.8 percent of capacity, processing 15.9 million bpd of crude. Prices continue to be supersensitive for any piece of new information. They fell after API reported the build on Tuesday, although […]