As oil prices continue to fall, the American Petroleum Institute (API) reported another major draw of 4.5 million barrels of United States crude oil inventories for the week ending June 29 – compared to analyst expectations that this week would see a draw of 3.267 million barrels. Last week, the American Petroleum Institute (API) reported an even bigger draw of 9.228 million barrels of crude oil. The API reported a draw in gasoline inventories for the week ending June 29 of 3.1 million barrels. Analyst expectations were for a draw of 1 million barrels . Crude oil prices saw mixed activity today, widening the spread between WTI and Brent crude as Libya’s oil production continues to suffer at the hands of the two rival NOC factions who are determined to duke it out. With the production and export capabilities in Libya now crippled, a force majeure is in place. […]