U.S. West Texas Intermediate crude oil futures are trading higher, but well off its high, shortly before the release of the American Petroleum Institute’s (API) weekly inventories report at 20:30 GMT on Tuesday. According to preliminary estimates, U.S. crude oil inventories were seen falling last week, while distillate and gasoline stocks likely rose slightly. At 20:14 GMT, May WTI crude oil futures are trading $59.43, up $0.78 or +1.33%. This is down from a high of $60.90. Prices rose earlier in the session as investors looked for bargains following the previous day’s plunge on rising output from OPEC+, while strong ... (full story)