June crude oil prices grinded higher during the initial morning hours, helped by well-received debt auctions in France and Spain and a rally in equity markets. The macroeconomic tone also appeared to get a lift from talk that the IMF was close to reaching its pledge for an extra $400 billion to manage the European debt crisis. It is possible that some of the early strength comes from positive action in Brent crude oil, which registered a higher high this morning. Yesterday's EIA inventory data showed a much larger than expected weekly build in crude stocks of 3.856 million barrels. Supplies held in Cushing Oklahoma rose to 41.18 million barrels, marking its highest level since last May. EIA crude stocks are 12.077 million barrels above year ago levels and 22.249 million barrels above the five year average. The refinery operating rate was up 0.8% to 84.6%, which compares to 82.5% last year and the five year average of 85.06%.