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The American Petroleum Institute reportedly shows a construct of 14.9M barrels of oil for the week ending January 6.
Gasoline inventories reportedly show a construct of 1.8M barrels, distillate inventories show a construct of 1.1M barrels, and stockpiles on the Cushing, Oklahoma, storage hub show a construct of two.3M barrels.
The U.S. Energy Information Administration will release its weekly petroleum supply data on Wednesday, with analysts forecasting the report will show a 500K-barrel decline in crude supplies and a 1.3M-barrel gain for gasoline, in line with an S&P Global Commodity Insights survey.
February WTI crude oil (CL1:COM) recently traded at $74.57/bbl after settling Tuesday at $75.12/bbl on the Recent York Mercantile Exchange.
ETF: (NYSEARCA:USO)