Oil futures rise after API inventory data
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By V. Phani Kumar, MarketWatch
HONG KONG (MarketWatch) — Crude-oil futures advanced in Asian trading Wednesday after data showed a smaller-than-expected increase in weekly U.S. inventories, despite mild gains for the dollar.
Light, sweet crude-oil futures for delivery in February /quotes/zigman/2291766 CLG3 +0.17% climbed 33 cents, or 0.4%, to $93.61 a barrel in electronic trading, after figures released by the American Petroleum Institute late Tuesday in the U.S. showed stockpiles increased by just 46,000 barrels in the week ended Jan. 11.
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Analysts surveyed by Platts had anticipated an increase of 2.5 million barrels.