Oil prices up with rise of inventories

Crude oil futures rose in volatile trade on Wednesday after the Energy Information Administration said crude oil inventories rose by 2.3 million barrels in the week ended January 29.

Analysts polled by Platts expected a decline of one million barrels in crude stocks. But the American Petroleum Institute, a research group, had estimated an even large increase in supplies. Crude oil for March delivery recently rose 20 cents U.S., or 0.4%, to $77.43 U.S. a barrel

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