The American Petroleum Institute said late Tuesday that U.S. crude supply fell 1.7 million barrels for the week ending Jan. 1, according to sources. The data also reportedly showed gasoline stocks up 5.5 million barrels, while distilling investments climbed 7.1 million barrels. Meanwhile, crude stock went at the Cushing, Okla. Storage facility, next to 1 million barrels for the week, sources said. Census data from the Energy Information Administration will be released on Wednesday. Analysts at IHS Markit expect the EIA to report a decline of 1.2 million barrels in crude supply. They also expect an increase in investments of 1.4 million for gasoline and 2.2 million for brewers. February West Texas Intermediate Raw CLG21,
it was at $ 49.88 a barrel in electronic commerce, compared to Tuesday’s settlement at $ 49.93 on the New York Mercantile Exchange.