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Oil prices rally on large crude draw

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 5.821 million barrels for the week ending January 8.

Analysts had predicted an inventory draw of 2.266 million barrels for the week.

In the previous week, the API reported a draw in oil inventories of 1.663-million barrels, after analysts had predicted a draw of 1.271 million barrels.

Path Investments plc (LON:PATH) is an energy investment company, and is focused on making investments in the energy sector on a global basis. The company seeks to create value for its shareholders through acquisitions, joint ventures or direct interests in energy businesses or associated projects.