NYMEX-June crude up slightly on API stock draw

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NYMEX-June crude up slightly on API stock draw

Apr 21st, 2009 - Reuters

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NEW YORK, April 21 (Reuters) - New front-month June cruderose slightly in post-settlement trading on Tuesday after theAmerican Petroleum Institute's weekly inventory data showeddomestic crude stocks fell rather than increasing as analystshad forecast. "The API report is full of surprises, but if the DOEconfirms the data, then we may see a bullish response," saidPhil Flynn, analyst at Alaron Trading in Chicago. "The API's report of refinery crude runs showing anincrease, means refineries are now getting out of maintenanceand the API report could signal a major shift from the routinestock increases that we have been seeing in recent weeks," headded.

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