The American Petroleum Institute (API) reported a surprise crude oil inventory build of 3.66 million barrels of United States crude oil inventories for the week ending August 11, compared to analyst expectations that this week would see a draw in crude oil inventories of 2.499 million barrels . Last week, the American Petroleum Institute (API) reported a draw of 6 million barrels of crude oil. The API reported a draw in gasoline inventories for week ending August 11 in the amount of 1.56 million barrels. Analysts predicted a smaller draw of 583,000 barrels . Oil prices were trading down earlier on Tuesday, but had rallied in the afternoon prior to the release of the API data on inventories. At 2:18pm EDT, WTI was trading up 0.18% ( +$0.12 ) at $67.32 per barrel, with Brent crude trading up 0.23% ( +$0.17 ) at $72.78 per barrel. The price fluctuations […]