Energy OverView October 29, 2014

WTI oil prices appear to have held support at $80, and they are building on gains from yesterday’s session, despite another massive inventory build reported by the API last night. Crude oil inventories rose 3.2 million barrels, according to the report, but a decline of over 3.0 million barrels in both gasoline and distillate (diesel) fuels offset the bearishness of the crude oil element. The EIA report, later this morning…