Heating Oil Retraces Gains Following Robust Inventory Build

Heating oil prices moved lower on Wednesday giving back some of its recent gains. The builds reported were larger than expected especially for Cushing Oklahoma which is where WTI crude oil is priced. The EIA reported that Cushing, OK inventories increased by 3.8 million barrels, which was more than expected.  Imports moved higher ahead of OPEC reduction in output as nations are producing as much as the…