After on Tuesday the API accelerated the price slide that began last week with an estimated crude oil inventory build of 7.83 million barrels , the EIA added fuel to the bearishness by reporting a build in inventories of 5.8 million barrels for the week to November 12. The authority also reported gasoline inventories went up by 1.9 million barrels last week, versus a decline of 3.2 million barrels in the prior week. Distillate fuel inventories shed 3.5 million barrels last week, versus a decline of 4.1 million barrels a week earlier. Gasoline production last week averaged 9.7 million barrels daily, the EIA also said, compared with 10.4 million bpd a week earlier. Distillate fuel production stood at 5 million bpd, virtually flat on the week. Oil bulls are still reeling from the lukewarm reaction of oil markets to the re-imposed U.S. sanctions against Iran, caused in no small […]