A day after the American Petroleum Institute once again took markets by surprise by reporting a crude oil inventory build of 7.29 million barrels , the Energy Information Administration said inventories were indeed up, by 7.1 million barrels for the week to March 1. At 452.9 million barrels, the EIA said, crude oil inventories were about 4 percent above the seasonal average. The authority also reported refinery runs of 16 million barrels daily for last week, versus 15.9 million bpd a week earlier. Gasoline production stood at 9.9 million bpd, up from 9.6 million bpd a week earlier. Distillate fuel production averaged 4.9 million bpd last week, compared with 4.8 million bpd a week earlier. Gasoline inventories shed 4.2 million barrels in the week to March 1, versus a 1.9-million-barrel decline during the week before. Distillate fuel inventories were down 2.4 million barrels, from a 300,000-barrel decline a week […]