Crude prices dipped slightly before jumping again after the Energy Information Administration reported an inventory decline of 4.6 million barrels for the week to January 7. The inventory change followed an estimated 2.1-million-barrel decline for the previous week. In fuels, however, the EIA reported builds across the board. Gasoline inventories added 8 million barrels in the first week of the new year, compared with a hefty build of 10.1 million barrels for the previous week. Gasoline production averaged 8.6 million bpd, which compared with 8.5 million bpd in the previous week. In middle distillates, the EIA ... (full story)