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BAKKEN WIRE
The Afternoon Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·🌅Afternoon Wire·
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Daily Energy Market Briefing Tuesday, April 21, 2026

1. Headlines

Oil prices surged today, with WTI closing up 3.39% at $90.38 and Brent up 3.85% at $93.91. The primary catalyst cited across financial media is a significant drawdown in U.S. inventories reported by the American Petroleum Institute (API). The API estimated a crude oil inventory draw of 4.4 million barrels for the week ending April 17, far exceeding analyst expectations of a 1-million-barrel draw. Product inventories also fell sharply, with gasoline down 5.165 million barrels and distillates down 4.59 million barrels. OilPrice.com reported these figures, noting continued draws from the Strategic Petroleum Reserve (SPR).

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