The American Petroleum Institute (API) reported a huge build of 5.661 million barrels of United States crude oil inventories for the week ending March 2, according to the API data. Analysts had expected a build of 2.723 million barrels in crude oil inventories. Last week, the American Petroleum Institute (API) reported a build of 933,000 barrels of crude oil. Last week’s API report showed a build in gasoline inventories of 1.914 million barrels. This week, the API reporting a build for crude oil, but a draw for gasoline, possibly dampening the affects that such a large crude oil build could have. The API reported a draw of 4.536 million in gasoline stockpiles, compared to a 1.201-million-barrel draw that analysts had expected. The WTI benchmark was down on Tuesday, trading mostly down by $.05 (-0.08%) at $62.52, while Brent trading up $0.18 (+0.27%) at $65.72 at 3:32pm EST. Both benchmarks […]