The American Petroleum Institute reported Tuesday that U.S. crude supplies fell by 1.1 million barrels for the week ended Feb. 2, according to sources. The API data also showed a decline of 227,000 barrels in gasoline stockpiles, while inventories of distillates saw a surprise climb of 4.6 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 climb of 2.8 million barrels for crude inventories. They also forecast a rise of 200,000 barrels for gasoline, but a decline of 800,000 barrels for distillate supplies. March crude was at $63.80 a barrel in electronic trading, up from the settlement of $63.39 on the New York Mercantile Exchange.
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