WTI Prices Jump As Cushing Crude Draw Worries Oil Market

The American Petroleum Institute (API) on Tuesday reported its fifth straight week of crude oil inventory builds. This week, the API estimated the inventory build for crude oil to be 2.318 million barrels. But a persistent draw in Cushing inventory is causing a bit of a stir. U.S. crude inventories are still 61 million barrels below where they were at the beginning of the year. Analyst expectations for the week were for a build of 1.650-million barrels for the week. In the previous week, the API reported a surprise build in oil inventories…