The American Petroleum Institute (API) estimated the inventory draw this week for crude oil to be 1.645 barrels after analysts predicted a build of 1.833 million barrels. U.S. crude inventories shed some 76 million barrels since the start of 2021, and about 19 million barrels since the start of 2020. In the week prior, the API reported a draw in crude oil inventories of 872,000 barrels after analysts had predicted a draw of 400,000 barrels. Oil prices were trading down on Tuesday in the run-up to the data release, easing off of the gains realized on Monday despite geopolitical concerns and strong demand. WTI was trading down 0.06% at $88.10 on the day at 2:26 p.m. EST but still up roughly $3 per barrel on the week. Brent crude was trading down by 0.20% at $89.08 $88.13 on the day and up roughly $1 per barrel on the week. […]