API Reports 1.3 Million Barrel Inventory Draw, WTI Oil Price Tests 5-Week Highs

The latest weekly American Petroleum Institute (API) inventory data for the week ending April 7th reported a draw of 1.3 million barrels. This was the second successive draw following a draw of 1.8 million barrels last week, but only the 4th decline in stocks in over three months.

Consensus forec…

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