2018.01.1714:53:00UTC+00Crude Oil Steady Ahead Of Inventories

Crude oil futures rose Wednesday, staying near recent 4-year highs ahead of U.S. inventories data.

The American Petroleum Institute is out with its weekly inventories report this afternoon, a day late due to MLK holiday. The government releases its weekly report tomorrow.

Feb. WTI oil climbed 24 cents, or 0.4%, to settle at $63.97/bbl

Oil inventories have plunged in the past two months, helping drive oil prices higher.

The U.S. economy continue to expand at a "modest to moderate" pace in December and early January, according to the Federal Reserve's Beige Book.

Respondents to the Fed's survey were "optimistic" about 2018 after seeing that wages increased in most districts of the country.