Crude oil inventories in the United States rose by 5.02 million barrels in the week ending January 31, the American Petroleum Institute's (API) private data reportedly showed on Tuesday.

Distillate inventories allegedly dropped by 6.98 million barrels, while gasoline stockpiles increased by 5.43 million barrels during the reported week. In the same period, reserves in Cushing, Oklahoma, were said to have jumped by 110,000 barrels.