Oil prices rose Wednesday after the U.S. Energy Information Administration reported that domestic crude supplies fell 1.1 million barrels for the week ended Jan. 19. Analysts surveyed by S&P Global Platts had forecast a decrease of 1.6 million barrels, while the American Petroleum Institute on Tuesday reported a rise of 4.8 million barrels. Gasoline stockpiles, however, climbed by 3.1 million barrels for the week, while distillate stockpiles rose 600,000 barrels, according to the EIA. The S&P Global Platts survey forecast a supply rise of 2.1 million barrels for gasoline and a fall of 2.5 million barrels for distillates. March crude added 27 cents, or 0.4%, to $64.74 a barrel on the New York Mercantile Exchange, up from $64.51 before the supply data.
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