The latest inventory report from the U.S. Energy Information Administration (EIA) also revealed the following changes for the previous week:

Gasoline inventories increased by 765,000 barrels, compared to a median forecast for a decrease of 1.905 million barrels.

Distillate fuel oil inventories rose by 1.395 million barrels, exceeding the forecast for an increase of 825,000 barrels.

Crude oil stocks at the Cushing, Oklahoma, delivery hub fell by 674,000 barrels.

Refinery utilization rates declined by 0.1 percentage point, while the median estimate anticipated a 0.3 percentage point drop.

Refinery crude oil inputs decreased by 58,000 barrels per day.

Crude oil imports increased by 117,000 barrels per day.

U.S. crude oil production decreased by 63,000 barrels per day.