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Investing.com — U.S. crude oil futures inched increased in post-settlement buying and selling Tuesday after the American Petroleum Institute reported a larger-than-expected decline in weekly home crude stockpiles.
Crude Oil WTI Futures, the U.S. benchmark, just lately traded at $74.42 a barrel following the report after settling up 0.9% at $74.25 a barrel.
U.S. crude inventories fell by about 4 million barrels for the week ended Jan. 3, in contrast with a draw of 1.4M barrels reported by the API for the earlier week. Economists had been anticipating a draw of simply 250,000 barrels.
Gasoline stockpiles elevated by about 7.3M barrels, whereas distillate inventories — the category of fuels that features diesel and heating oil — climbed by 3.2M barrels.
The official authorities stock report is due Wednesday at 10:30 a.m. ET (1530 GMT).
