The U.S. Energy Information Administration (EIA) reported on Wednesday
that crude inventories fell by 3.644 million barrels in the week ended June 6, following a decline
of 4.304 million barrels in the previous week. Overall, this represents the third
straight weekly drop in U.S. crude inventories. Economists had predicted a draw of 2.000 million barrels.
At the same
time, gasoline stocks increased by 1.504 million barrels. Analysts had anticipated a gain of 0.900 million barrels.
The previous week witnessed a jump of 5.219 million barrels.
Elsewhere,
distillate stocks rose by 1.246 million barrels. Analysts
had foreseen a build of 0.800 million barrels. The previous week saw a climb
of 4.230 million barrels.
Meanwhile, oil
production in the U.S. grew by 20,000 barrels per day to 13.428 million barrels
per day.
U.S. crude oil
imports averaged 6.2 million barrels per day last week,
logging a decrease of 170,000 barrels per day from the week before.