The American Petroleum Institute (API) reported an inventory draw in crude oil. This week, the API estimated the inventory draw for crude oil to be 747,000 barrels. U.S. crude inventories have shed some 57 million barrels since the beginning of the year. Analyst expectations for the week were for a larger draw of 1.
667-million barrels for the week. In the previous week, the API reported a build in oil inventories of 2.307 million barrels, compared to the 950,000-barrel draw that analysts had predicted. Oil prices had been trading…Small Crude Draw Fails To Boost Oil Prices
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