The American Petroleum Institute (API) reported a build this week for crude oil of 1.845 million barrels, while analysts predicted a draw of 1.8 million barrels. The draw comes even as the Department of Energy released 7.3 million barrels from the Strategic Petroleum Reserves in Week Ending June 3. U.S. crude inventories have shed some 74 million barrels since the start of 2021 and about 17 million barrels since the start of 2020, according to API data. In the week prior, the API reported a draw in crude oil inventories of 1.181 million barrels…
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