The American Petroleum Institute (API) reported another large, surprise build in crude oil inventories of 4.852 million barrels for the week ending June 6, coming in over analyst expectations of a 481,000-barrel drawdown in inventories. Cushing inventories also saw a sizable gain, and gasoline inventories grew as well. Last week, the API reported a surprise build of 3.545 million barrels . A day later, the EIA estimated that US inventories had built by even more, by 6.8 million barrels . The net build now a hefty 35.05 million barrels for the 24-week reporting period so far this year, using API data. Oil prices rose slightly earlier on Tuesday as the oil market waits to see what the inventory situation in the United States looks like, and what the result will be of the upcoming OPEC. At 4:22pm EST, WTI was trading up slightly by $0.12 (+0.23%) at $53.38—pennies over […]