HOUSTON, Jan. 28 (Xinhua) -- The American Petroleum Institute on Tuesday reported an increase of 2.86 million barrels of crude oil in U.S. inventories for the week ending Jan. 24.

Analysts expected a surge of 3.7 million barrels for this week.

The Institute reported a hike of 1 million barrels in the previous week.

Oil prices went up on Tuesday.

The West Texas Intermediate for March delivery added 60 cents, or 0.82 percent, to settle at 73.77 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery gained 41 cents, or 0.53 percent, to settle at 77.49 dollars a barrel on the London ICE Futures Exchange. Enditem

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