Oil Steady Despite Large Crude Draw

Crude oil inventories in the United States saw a large draw this week of 6.195 million barrels, the American Petroleum Institute (API) data showed on Tuesday, after last week’s surprise 4.067 million barrel build. Analysts were expecting a draw of 2.050 million barrels in U.S. crude-oil inventories. The total number of barrels of crude oil gained so far this year is nearly 18 million barrels, according to API data, although there is a net draw in crude inventories since April of almost 30 million barrels. On Monday, the Department of Energy…