A day after API’s estimate of another weekly crude oil inventory draw in a row sent WTI higher, the Energy Information Administration confirmed a large draw, at 9.6 million barrels for the week to March 15. The authority said crude oil inventories stood at 439.5 million barrels at March 15, slightly below the average for the season. In gasoline, the EIA reported a draw of 4.6 million barrels for the week to March 15, unchanged from a same-size draw a week earlier. Gasoline inventories have been posting hefty declines for three weeks in a row now. In distillate fuel, the authority said inventories had shrunk by 4.1 million barrels, compared with a small build of 400,000 barrels in the prior week. Refineries processed 16.2 million barrels of crude daily last week, the EIA also said, which compared with 16 million bpd a week earlier. Gasoline production averaged 9.9 million […]