API Reports Small Crude Draw As Oil Prices Close Lower

The American Petroleum Institute (API) has reported a 2.418-million-barrel draw on U.S. crude inventories, compared with the previous week’s 6-million-barrel draw, as oil prices slip on China growth concerns.   Analysts tracked by Investing.com were expecting the Energy Information Administration (EIA) to report an inventory draw of nearly 2.3 million barrels on Wednesday.  Oil prices were slipping slightly on Tuesday ahead of API data, with Brent trading down 0.46% at $84.07 at 3:35 p.m. ET, while WTI was trading down 0.58%,…