The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 3.608 million barrels for the week ending April 9. Analysts had predicted a draw of 2.889 million barrels for the week. In the previous week, the API reported a draw in oil inventories of 2.618 million barrels after analysts had predicted a smaller draw of 1.436-million barrels. Enbridge tanks at main Cushing area as of April 9. Oil prices were trading up on the day prior to the data release as OPEC’s Monthly Oil Market Report suggested a higher…
