The American Petroleum Institute reported Tuesday that U.S. crude supplies rose by 4.8 million barrels for the week ended Jan. 19, according to sources. The API data also showed a climb of 4.1 million barrels in gasoline stockpiles, while inventories of distillates fell by 1.3 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a decline of 1.6 million barrels for crude inventories. They also forecast a rise of 2.1 million barrels for gasoline, but a decline of 2.5 million barrels for distillate supplies. March crude was at $64.48 a barrel in electronic trading, little changed from the settlement of $64.47 on the New York Mercantile Exchange, which was the highest since December 2014.
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