The American Petroleum Institute (API) has estimated a large crude oil inventory build of 4.13 million barrels for the week ending October 3—compared to analyst expectations of a 1.413-million-barrel build. Last week saw a surprise draw in crude oil inventories of 5.92 million barrels , according to API data. The EIA estimated that week that there had been a build instead, of 3.1 million barrels . After today’s inventory move, the net draw for the year is 25.72 million barrels for the 41-week reporting period so far, using API data. Oil prices were trading down on Tuesday prior to the data release as economic growth outlooks dampen, threatening future oil demand growth. The EIA’s latest Short Term Energy Outlook on Tuesday adjusted down its estimate for Brent prices in 2020 by $5 per barrel, expecting it to average just $57 per barrel by the second quarter of next year. […]