Crude Oil Inventories Dip Again

Crude oil inventories in the United States fell by another 2.79 million barrels for the week ending September 6, according to The American Petroleum Institute (API). Analysts had expected a 700,000-barrel build. For the week prior, the API reported a 7.4-million-barrel decrease in crude inventories. So far this year, crude oil inventories are more than 12 million barrels under where they were at the start of the year, according to API data. On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum…