Oil Pares Gains As API Reports Surprise Crude Build

The American Petroleum Institute (API) reported a build of 2.903 million barrels of United States crude oil inventories for the week ending September 21, compared to analyst expectations that this week would see a draw in crude oil inventories of 1.279 million barrels. Last week, the American Petroleum Institute (API) reported a build of 1.25 million barrels of crude oil. The API reported a build in gasoline inventories as well for week ending September 21 in the amount of 949,000 barrels. Analysts had predicted a slightly smaller build of 788,000…

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