Oil Prices Hold Gains Following Crude Inventory Draw

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 3.09 million barrels. U.S. crude inventories have shed some 68 million barrels since the beginning of the year. In the previous week, the API reported a draw in oil inventories of 3.670 million barrels, compared to the 2.633-million-barrel draw that analysts had predicted. Oil prices were trading up on Tuesday in the run-up to the data release, with WTI trading up 0.49% to $75.94 on the day, but up $6 per barrel on the week. Brent was trading…