Oil Prices Slip On Surprise Inventory Build

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 1.026 million barrels for the week ending February 19. Analysts had predicted an inventory draw of 5.190 million barrels for the week. In the previous week, the API reported a draw in oil inventories of 5.8-million barrels after analysts had predicted a draw of 2.429-million barrels. Oil prices were trading up on Tuesday ahead of the data release as oil supplies tighten from oil and gas shutdowns in the United States courtesy of the Texas Freeze. At 3:28…