The American Petroleum Institute (API) estimated the inventory draw this week for crude oil to be 2.025 million barrels after analysts predicted a build of 675,000 barrels. U.S. crude inventories shed some 78 million barrels since the start of 2021, and about 21 million barrels since the start of 2020.
In the week prior, the API reported a draw in crude oil inventories of 1.645 million barrels after analysts had predicted a build of 1.833 million barrels. Oil prices were trading down on Tuesday in the run-up to the data release on renewed fears…Oil Prices Inch Closer To $90 On Surprise Crude Draw
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