The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 9.517 million barrels for the week ending September 11. Analysts had predicted an inventory draw of 1.271-million barrels . In the previous week, the API reported a draw in crude oil inventories of 2.970 million barrels , after analysts had predicted a smaller draw of 1.335 million barrels. Oil prices were trading up on Tuesday afternoon before the API’s data release, but the rising prices come only after a brutal trading day in the day prior when oil prices sunk to their lowest levels since June. In the hours leading up to Tuesday’s data release, at 2:36 pm EDT, WTI had risen by $1.03 (+2.76%) to $38.29. While up significantly on the day, WTI is trading only a few cents up on the week. The Brent crude benchmark had risen by $0.89 at 2:38 […]