Crude and Gasoline Draws Undercut Glut Fears ...Middle East

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The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 3.420 million barrels in the week ending September 12, more than twice as much as analysts had predicted, which was a 1.6 million barrel draw. So far this year, crude oil inventories are up nearly 5.3 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 500,000 barrels to 405.7 million barrels in…

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