Oil Prices Under Pressure As Gasoline Inventories Climb

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 831,000 barrels for the week ending September 25 - but this draw was more than offset by a build in gasoline inventories. Analysts had predicted an inventory draw of 2.325-million barrels. In the previous week, the API reported a small build in crude oil inventories of 691,000 barrels, after analysts had predicted a draw of 2.256 million barrels. Oil prices were trading down sharply on Tuesday afternoon before the API’s data release as the market…