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API says oil inventories rose 2.1 million *PIC*

API says oil inventories rose 2.1 million (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil inventories rose 2.1 million barrels for the week ended Jan. 21, the American Petroleum Institute said late Tuesday. That countered analyst expectations of a rise around 400,00 barrels, according to a Dow Jones Newswires survey. Gasoline supplies rose 1.7 million, against expectations of a 2.6 million-barrel rise. Distillate supplies declined 5 million barrels. They were expected to remain flat. Oil for March delivery (CLH11) closed at $86.19 a barrel on Tuesday, an eight-week low.

(Note: First trade below 10wma {50dma} since last September)

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API says oil inventories rose 2.1 million *PIC*