The American Petroleum Institute (API) reported a draw in crude oil inventory of 3.096 million barrels for the week ending April 12, coming in over analyst expectations of a 1.711-million-barrel build. Last week, the API reported a build in crude oil of 4.1 million barrels. A day later, the EIA confirmed the build, with a report of a 7-million-barrel buildup in inventory. Including this week’s data, the net build is now 4.44 million barrels for the 16-week reporting period so far this year, using API data. WTI was trading up on…
