The American Petroleum Institute (API) on Tuesday reported a modest draw in crude oil inventories of 2.618 million barrels for the week ending April 2. Analysts had predicted a smaller draw of 1.436 million barrels for the week. In the previous week, the API reported a build in oil inventories of 3.910 million barrels after analysts had predicted a much smaller build of 107,000 barrels. Plains All American tanks at main Cushing area as of April 2. After tanking on Monday, oil prices were trading up on the day prior to the data release as fears…
