The American Petroleum Institute (API) reported a surprise draw of 3.28 million barrels of United States crude oil inventories for the week ending March 30, after analysts had anticipated a modest build in crude oil inventories of 246,000 barrels . Last week, the American Petroleum Institute (API) reported major build—and a surprise one at that—of 5.321 million barrels of crude oil. The API reported this week a build for gasoline for week ending March 30 of 1.123 million in gasoline stockpiles—a surprise given the 1.26-million-barrel draw that analysts had expected. Both benchmarks had climbed on Tuesday, with the WTI benchmark up by $0.57(+0.90%) at $63.58 while Brent traded up $0.54 (+0.80%) at $68.18 at 4:05 pm EST. While both benchmarks are up on the day, they are still down from last week’s levels as the threat of a trade war weighs on, causing oil prices to hit a two-week […]