Oil prices rebounded from a two-week low Tuesday as Saudi Arabia pledged to deepen production cuts and U.S. President Donald Trump said he could extend a deadline for new tariffs on China. However, after tagging $54, WTI slid back lower to hover around $53 ahead of tonight's API inventory data. An inventory build will lead market to believe "unwinding of inventories isn’t happening as quickly as they would like despite lower imports of Saudi crude into U.S. and recent sub-par growth of shale production," said Bart Melek, head of global commodity strategy at TD Securities in Toronto. API Crude -998k (+2.4mm exp) ... (full story)