API reported a decrease of 5.272 million barrels of crude oil inventories for the previous week ending Jan. 22 while the U.S. Energy Information Administration reported a fall of 9.9 million barrels.
Oil prices moved higher on Tuesday, extending the gains they scored in the previous session.
The West Texas Intermediate for March delivery added 1.21 U.S. dollars to settle at 54.76 dollars a barrel on the New York Mercantile Exchange. Brent crude for April delivery rose 1.11 dollars to close at 57.46 dollars a barrel on the London ICE Futures Exchange.
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