Oil Slips After API Reports Third Gasoline Build In A Row

Operating on a one-day delay due to the U.S. holiday, the American Petroleum Institute (API) estimated the inventory build this week for crude oil to be 1.404 million barrels after analysts predicted a draw of 1.367 million barrels. U.S. crude inventories shed some 74 million barrels since the start of 2021, and about 17 million barrels since the start of 2020. In the week prior, the API reported a draw in crude oil inventories of 1.077 million barrels after analysts had predicted a larger draw of 1.95 million barrels. Oil prices were trading…