WTI Holds Gains After API Reports Bigger-Than-Expected Crude Draw

From zerohedge.com

Oil prices ended unchanged today as early Azerbaijan angst sent WTI above $92 and some chatter from the Biden admin that draining the SPR was once again the table seemed to drag WTI back down (but $90 was support). "The Saudi appetite to withhold oil from market, supported by Russia maintaining a certain level of export constraint, points to higher prices in the short term, all else equal," analysts at Citi, led by Edward Morse, global head, commodities, wrote in a note dated Monday. Investors have been looking past worries about China's economic growth and a sluggish economy in Europe to push the commodity higher ... (full story)