WTI Stops Slide As API Figures Show Major Gasoline Draw ...Middle East

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WTI Stops Slide As API Figures Show Major Gasoline Draw
source : OILPRICE ( Middle East ) () 29
The American Petroleum Institute (API) reported a draw this week for crude oil of 448,000 barrels, while analysts predicted a smaller draw of 117,000 barrels. The draw comes as the Department of Energy released 3.4 million barrels from the Strategic Petroleum Reserves in week ending August 12, to 461.2 million barrels. U.S. crude inventories have shed some 61 million barrels since the start of 2021, with a 1.7 million barrel gain since the start of 2020, according to API data. In the week prior, the API reported a surprise build in crude oil inventories…

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