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Oil supplies rise in week

WASHINGTON, Feb. 2 (UPI) -- U.S. crude oil inventories rose in the week that ended Friday, the U.S. Energy Information Administration said.

The agency said crude oil inventories rose by 4.2 million barrels to 338.9 million barrels in the latest report. Supplies are in the upper limit for the average range for this time of year, the agency said.

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Supplies of distillate fuels -- which include home heating oil -- fell by 100,000 barrels in the week to 145.4 million barrels and are in the middle of the average range for this time of year, the EIA said.

Gasoline inventories rise by 3 million barrels to 223.1 million barrels and in the upper limit of the average range for this time of year.

Inventories of finished gasoline and blending component supplies rose, the agency said.

The EIA said the national average price of regular gasoline increased for the fifth time in the past six weeks.

Average prices increased five cents to $3.439 per gallon in the week.

The price of gasoline is 33.8 cents above the same week of 2011, the agency said.

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