The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 1.141 million barrels for the week ending December 4. Analysts had predicted an inventory draw of 1.514 million barrels for the week. In the previous week, the API reported a build in oil inventories of 4.146-million barrels, after analysts had predicted draw instead, of 2.
358 million barrels. Brent crude was slightly up on Tuesday afternoon before the data release, but WTI was trading down. Oil prices remain under pressure from extended lockdowns in…Oil Prices Slip As Oil And Product Inventories Continue To Build
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