Hard Assets Investor submits:
By Brad Zigler
This morning, the U.S. Energy Department reported domestic oil inventories rose for the seventh consecutive week. Playing catch-up with the government’s figures, the industry-supported American Petroleum Institute had called for a 6.5-million-barrel jump, while sell-side analysts forecast a 1.6-million- to 2.0-million-barrel build. Actual crude oil inventories were reported to have risen by 1.4 million barrels.