Oil Prices Jump On Bullish EIA Report

After they dipped following the Tuesday inventory report by the API, oil prices recouped some of their losses after the Energy Information Administration reported a crude oil inventory draw for the week to December 13. The draw came in at 1.1 million barrels, which compared with analyst expectations of a 1.92-million-barrel draw and a build of 800,000 barrels for the previous week. The EIA also reported a 2.5-million-barrel increase in gasoline stockpiles and an average production rate of 9.8 million bpd. This compared with a hefty inventory increase…