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The American Petroleum Institute reported on Tuesday evening that supplies of U.S. crude fell 4.3 million barrels for the week ended Jan. 29, sources said. The data also reportedly showed that gasoline inventories declined by 240,000 barrels, while distillate inventories decreased by 1.6 million barrels. Crude inventories at the Cushing, Oklahoma storage facility, meanwhile, fell 1.9 million barrels for the week, sources said. Inventory data from the Energy Information Administration will be released on Wednesday. On average, the EIA is expected to show crude inventories down 2.4 million barrels, according to an analyst survey by S&P Global Platts. The survey also shows expectations for an inventory increase of 1.5 million barrels for gasoline and a decline of 1.3 million barrels for distillates. Mars West Texas Intermediate crude CLH21,
was $ 55.07 a barrel of electronic trading, compared to Tuesday’s settlement of $ 54.76 on the New York Mercantile Exchange.
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