API Data Show U.S. Crude Supplies Jumped 11.4 Million Barrels: Sources

The American Petroleum Institute late Tuesday reported that crude supplies climbed by 11.4 million barrels for the week ended Jan. 22, according to sources who reviewed the report. The more closely watched EIA report is due Wednesday. On average, analysts polled by Platts show expectations for a crude supply increase of 3.5 million barrels. Following the API data, March crude was at $30.51 a barrel in electronic trading, down from the $31.45 settlement on Nymex.

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