The American Petroleum Institute (API) reported a major draw of 8.636 million barrels of United States crude oil inventories for the week ending September 7, compared to S&P Global Platts analyst expectations that this week would see a draw in crude oil inventories of 2.7 million barrels . Last week, the American Petroleum Institute (API) reported a modest draw of 1.17 million barrels of crude oil. The API reported a build in gasoline inventories for week ending September 7 in the amount of 2.122 million barrels. Platts analysts predicted no change in gasoline inventories for the week. Oil prices were trading up in late morning trade prior to the release of the API data on inventories. At 11:17am EDT, WTI was trading up 1.72% (+$1.16) at $68.70 per barrel—down slightly from prices this time last week. Brent crude was also trading up , by 1.56% (+$1.21) at $78.58—almost $1.00 […]