With oil prices already down on the day, the American Petroleum Institute (API) reported a large build of 3.427 million barrels of United States crude oil inventories for the week ending April 27, compared to analyst expectations that this week would see a smaller build in crude oil inventories of 739,000 barrels . Last week, the American Petroleum Institute (API) reported a draw of 1.099 million barrels of crude oil. The API reported a build in gasoline inventories for week ending April 27 in the amount of 1.602 million barrels—a surprise given the 587,000-barrel draw that analysts had expected. Oil prices fell on Tuesday, with the WTI benchmark trading down $1.13 (-1.65%) at $67.44 at 4:12pm EST. The Brent benchmark was trading down $1.42 (-1.90%) at $73.27 —both down from last week’s prices as the dollar rallied and as traders feared higher crude oil inventory figures. Neither fear over […]