U.S. crude oil inventories fell more than expected last week, logging their seventh-consecutive weekly draw.Initial gains in a knee-jerk reaction quickly faded as bulls turned cautious ahead of the Federal Reserve’s policy decision. The Energy Information Administration said in its regular weekly report that crude oil inventories decreased by about 8.5 million barrels in the week to July 26. That was compared to forecasts for a stockpile draw of just 2.59 million barrels, adding to a higher-than-estimated draw in gasoline inventories and an unexpected decline distillate stockpiles. While oil prices initially jumped an additional 30 cents after the data, those gains quickly faded. U.S. crude prices last rose 0.3% to $58.21 a barrel by 11:17 AM ET (15:17 GMT), down from $58.44 prior to the publication. London-traded Brent crude futures traded up 0.5% to $64.92 a barrel, compared to $65.09 ahead of the release. “On the surface of it, this is a whopping drawdown, coming after last week’s 11-million-barrel drop, but the follow-up price movement seems to indicate that people are still having trouble ‘buying’ the strong numbers for crude after Hurricane Barry,” Investing.com senior commodity analyst Barani Krishnan said after the report. “Or maybe they are just waiting out…