This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 1.077 million barrels, after analysts predicted a draw of 1.95 million barrels. U.S. crude inventories shed a total of some 76 million barrels since the start of 2021. In the previous week, the API reported a huge draw in oil inventories of 6.
432 million barrels after analysts had predicted a smaller draw of 3.40 million barrels. Oil prices were trading up on Tuesday in the run-up to the data release, after sinking on Monday due to demand fears stemming…API Shocks With Very Large Gasoline Build
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