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

Gasoline inventories fell by 968,000 barrels, compared to expectations for a 1.1 million barrel decrease.

Distillate fuel inventories declined by 10,000 barrels, versus a forecasted drop of 2 million barrels.

Crude oil stocks at the Cushing, Oklahoma hub increased by 1.611 million barrels.

Refinery utilization rates slipped by 0.3 percentage points, below the expected decline of 0.4 percentage points.

Refinery crude throughput rose by 26,000 barrels per day.

Crude oil imports jumped by 1.141 million barrels per day.

Crude oil production edged up by 1,000 barrels per day.