Oil Holds Gains As Large Gasoline Draw Offsets Crude Build

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 691,000 barrels for the week ending September 18. Analysts had predicted an inventory draw of 2.256-million barrels. In the previous week, the API reported a significant draw in crude oil inventories of 9.517 million barrels, after analysts had predicted a smaller draw of 1.271 million barrels. Oil prices were trading up modestly on Tuesday afternoon before the API’s data release, despite the worsening demand sentiment in the market brought on by…