The American Petroleum Institute (API) reported a surprise build in crude oil inventory of 6.81 million barrels for the week ending April 26, coming in over analyst expectations of a 2.093-million-barrel buildup in inventories. Last week, the API reported a large build in crude oil of 6.86 million barrels . A day later, the EIA confirmed the build with a report of a 5.5-million-barrel drop in inventory. Including this week’s data, the net build is now 18.11 million barrels for the 18-week reporting period so far this year, using API data. (Click to enlarge) Oil prices rose on Tuesday as signs pointed to a continued tightening of global oil supplies as OPEC is giving no indication that it will back off its production quotas. WTI was trading up on Tuesday before the data release at $64.03, up $0.53 (+0.93%) on the day at 12:29pm, but down week on week […]