WTI Spikes As Crude Inventories Fall

Crude oil inventories in the United States decreased this week by 4.382 million barrels, the American Petroleum Institute (API) data showed on Wednesday, after falling by 2.408 million barrels in the week prior as the IEA eyes a supply deficit in this half of the year. Analysts were expecting a smaller 1.

8-million-barrel draw in U.S. crude-oil inventories. The total number of barrels of crude oil gained so far this year is nearly 32 million barrels, according to API data, although the net draw in crude inventories since April is more than 15 million…