U.S. Oil Inventory Rises 6.1 Million Barrels On Week, Says API

U.S. inventories for the week ended Jan. 30 rose by 6.1 million barrels to 411.2 million barrels, according to figures released by the American Petroleum Institute late Tuesday. The data precedes more closely watched figures from the U.S. Energy Information Administration on Wednesday. Analysts surveyed by Platts estimate an inventory rise of 2.8 million barrels. Earlier Tuesday, crude oil for March delivery settled at its highest level of 2015 at $53.05 a barrel, following a 7% rally on the day.

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