Data released by the U.S. Energy Information Administration (EIA) showed that U.S. crude oil inventories totaled 421.9 million barrels for the week ending January 22, up 1.2 million barrels on the previous week.

Inventories of distillates - including heating oil - fell by 2.5 million barrels, while gasoline stocks rose by 1.2 million barrels, again compared with the previous week, the agency continued.

Finally, the EIA states that refineries operated at 82.9% of their operational capacity during the same week, with average production of 9.3 million barrels/day.

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