Crude oil prices extended their gains from Tuesday after the American Petroleum Institute reported an estimated inventory draw of over 5 million barrels that observers had not expected. That followed a weekly inventory draw of over 7 million barrels for the previous week, suggesting strong demand for crude. Following the release of the API report, Brent crude ticked up closer to $78 per barrel and West Texas Intermediate moved up above $72 per barrel. The Energy Information Administration is reporting its own inventory…
