WTI rallied up to tag $68 (Sep) stops intraday, as a U.S. plan to sell strategic oil reserves highlighted concerns about tightening global supplies, ahead of tonight's API report. After fading into the print, WTI rebounded after API reported a bigger than expected crude draw. API • Crude -5.17mm (-2mm exp) • Cushing +195k (+900k exp), Genscape +519k • Gasoline -930k (-500k exp) • Distillates +1.8mm (+1.5mm exp) Last week's surprise crude build (biggest since March 2017), API reported a big surprise crude draw of 5.17mm. Distillates built more than expected and gasoline drew down more than expected. All in all - a big ... (full story)