As the effect of the coronavirus epidemic begins to recede and oil prices start to recover, the Energy Information Administration reported a crude oil inventory build of 400,000 barrels for the week to February 14, hardly affecting the tentative bullishness. A day earlier, the American Petroleum Institute reported an estimated inventory build of 4.16 million barrels, which made prices falter. Analysts, for their part, had expected the EIA to report an inventory build of 3.767 million barrels, adding to a hefty 7.5-million-barrel increase reported for the previous week. For the week to February 14, the EIA also reported a 2-million-barrel decline in gasoline stockpiles, with production averaging 9.5 million bpd. A week earlier, gasoline inventories shed a modest 100,000 barrels, with production averaging 9.2 million bpd. In distillate fuels, the EIA reported a decline of 600,000 barrels, with production at 4.9 million bpd. This compared with an inventory draw […]