The American Petroleum Institute (API) reported a surprise build this week for crude oil of 4.784 million barrels, compared to analyst predictions of a much smaller 600.000 barrel build. U.S. crude inventories have shed some 71 million barrels since the start of 2021 and about 14 million barrels since the start of 2020.
In the week prior, the API reported a surprise draw in crude oil inventories of 4.49 million barrels after analysts had predicted a build of 2.533 million barrels. Oil prices were trading up on Tuesday after Monday's brief selloff,…Germany Could Ban Russian Oil In ‘Days’
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