The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a sizeable build of 6.5 million barrels in the week ending October 31. Crude oil inventories in the United States are so far showing a net gain of 3.6 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have risen by 500,000 barrels to 409.6 million barrels in the week ending October 31 as the government…