The American Petroleum Institute (API) reported a build of 933,000 barrels of United States crude oil inventories for the week ending February 23, according to the API data. Analysts had expected a larger build of 2.077 million barrels in crude oil inventories. Last week, the American Petroleum Institute (API) reported a small draw of 907,000 barrels of crude oil, which this week more than offsets. Last week’s API report showed a build in gasoline inventories of 1.468 million barrels. This week, the API reporting build for both crude oil and gasoline. The API reported a build of 1.914 million in gasoline stockpiles, compared to a 190,000-barrel draw that analysts had expected. The WTI and Brent benchmarks were both down on Tuesday with WTI trading down $0.76 (-1.19%) at $63.15, while Brent trading down $0.66 (-0.98%) at $66.63 at 1:55pm EST. Despite the drop in prices today, both benchmarks are […]