The U.S. Energy Information Administration reported on Wednesday that crude inventories rose by 7.8 million barrels for the week ended Jan. 29. The American Petroleum Institute on Tuesday reported a 3.8 million-barrel increase, according to sources. Citi Futures forecast a rise of between 5 million and 6 million barrels. Gasoline supplies rose by 5.9 million barrels, while distillate stockpiles fell by 800,000 barrels last week, according to the EIA. March crude was at $29.83 a barrel on the New York Mercantile Exchange, down 5 cents. Prices traded at $30.33 before the data.
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