After three straight weeks of builds in commercial oil inventories, today, the EIA had some more bad news for traders. The authority reported a build of 600,000 barrels, a day after the American Petroleum Institute estimated commercial inventories were down by 884,000 barrels in the week to February 17. Analysts expected an increase of 3.3 million barrels for the period. Last week, EIA’s report put crude stockpiles at a record high of 518.1 million barrels . This week’s figures were for a total inventory size of 518.7 million barrels, still above seasonal limits. Refineries operated at 84.3 percent of capacity in the seven days to February 17, processing 15.3 million barrels of crude daily, slightly down from the 15.5 million bpd in the previous week. Gasoline output averaged 9.4 million barrels, an increase on the previous week’s 9 million bpd. Gasoline inventories went down by 2.6 million barrels in […]