The American Petroleum Institute (API) reported a draw of 1.047 million barrels of United States crude oil inventories for the week ending April 13, largely in line with analysts who had anticipated a draw in crude oil inventories of 1.429 million barrels. Last week, the American Petroleum Institute (API) reported surprise build of 1.758 million barrels of crude oil. The API reported a draw for gasoline inventories as well for week ending April 13, in the amount of of 2.473 million—a surprise given the small 227,000-barrel draw that analysts had expected. Neither benchmark saw much activity earlier on Tuesday, with a mixed bag of small ups and downs. The WTI benchmark was trading up by $0.05 (+0.08%) at $66.27—less than $0.50 over last week’s prices, while Brent traded down $0.07 (-0.10%) at $71.35—almost even with last week’s prices at 2:30 pm EST. Brent was trading up earlier in the […]