The American Petroleum Institute (API) reported a build in crude oil inventory of 1.26 million barrels for the week ending February 15, coming in under analyst expectations that predicted a build in crude oil inventories to the tune of 3.080 million barrels . Last week, the API reported a small but unexpected crude draw of 998,000 barrels . A day later, the EIA reported a larger one of 3.6 million barrels. Oil prices were trading up earlier on Tuesday, with WTI trading up $0.80 (+1.42%) at $57.25, while the Brent crude benchmark was trading up $0.68 (+1.02%) at $67.13. Both benchmarks were up on significantly on the week as oil bulls dare to bet on a trade resolution between China and the United States, and as OPEC data shows that Saudi Arabia is willing and able to cut production as promised—and then some. Venezuela’s falling oil production is yet […]