The Energy Information Administration reported a 2.4-million-barrel build in crude oil inventories for the week to August 2, shattering expectations of another sizeable draw. Analysts had expected a draw of 3.13 million barrels after last week the authority reported a hefty 8.5-million-barrel decline in inventories that sent West Texas Intermediate soaring. The American Petroleum Institute reported yesterday another weekly decline in oil inventories, of 3.4 million barrels, but this time the figure failed to impress. With EIA rejecting it, chances are the slide in oil prices will now accelerate. The EIA’s figures are ... (full story)