Oil's gains were capped today as China trade talk headlines spoiled the party. “China has been the real driver behind oil demand globally for the last decade and if that is turned off, it is going to make people very nervous,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. API Crude -2.133mm (+1.75mm exp) Cushing -317k Gasoline -2.794mm Distillates -1.607mm After a surprise crude draw last week, expectations were for a build but API reported a surprise 2.133mm crude draw (and draws across all products and at Cushing). WTI faded back after attempting to tag $60 ... (full story)