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Commercial crude oil inventories increased by 5.27 million barrels
US oil inventories rose during the week ended Jan. 9, alongside increases in gasoline and distillate inventories, according to estimates by the American Petroleum Institute (API).
The institute, in a report issued today, Jan. 14, said that commercial crude oil inventories increased by 5.27 million barrels over the past week.
The report showed that gasoline inventories rose by 8.23 million barrels over the same period, while distillate inventories, including diesel and heating oil, increased by 4.34 million barrels.
Official data from the Energy Information Administration (EIA) are scheduled to be released later today, amid expectations of a 1.7 million-barrel decline in oil inventories.
On Jan. 13, Brent crude futures for March delivery climbed 2.51%, or $1.6, to $65.47 per barrel.
US Nymex crude futures for February delivery jumped 277%, or $1.65, to $61.15 per barrel.
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