Oil Prices Unmoved By Surprise Crude Build

The American Petroleum Institute (API) has estimated a crude oil inventory build of 4.26-million barrels for the week ending October 31, compared to analyst expectations of a 1.515-million-barrel build. Last week saw a draw in crude oil inventories of 1.7 million barrels, according to API data. The EIA’s estimates, however, reported a build of  5.7-million-barrels for that week. After today’s inventory move, the net draw for the year has now shrunk to 8.26 million barrels for the 45-week reporting period so far, using API data.Oil…