A large build in gasoline inventories which offset a modest draw in crude oil inventories cooled bullish sentiment in markets somewhat on Tuesday afternoon The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 4.264 million barrels for the week ending August 14—a near mirror of last week’s draw figure. Analysts had predicted a modest inventory draw of 2.670-million barrels . In the previous week, the API reported a draw in crude oil inventories of 4.401 million barrels , after analysts had predicted a draw of roughly half that. Oil prices were trading down on Tuesday afternoon before the API’s data release, and just minutes before the release, WTI had fallen by $0.33 (-0.77%) to $42.56. The Brent crude benchmark had fallen by $0.30 (-0.66%) to $45.07, even as OPEC showed this week that its overall July compliance rate was about as good as […]