The U.S. Energy
Information Administration (EIA) reported on Thursday that crude inventories fell
by 2.492 million barrels in the week ended January 12, following a jump of 1.338
million barrels in the previous week. Economists had forecast a draw of 0.313 million barrels.
At the same
time, gasoline stocks increased by 3.083 million barrels. Analysts had predicted a build of 2.150 million barrels. The previous
week registered a climb of 8.029 million barrels.
Elsewhere,
distillate stocks advanced by 2.370 million barrels. Analysts had foreseen a gain of 0.880 million
barrels. The previous week recorded a leap of 6.528 million barrels.
Meanwhile, oil
production in the U.S. increased by 100,000 barrels a day to 13.300 million
barrels per day.
U.S. crude oil
imports averaged 7.4 million barrels per day last week, logging a rise of 1.2
million barrels per day from the week before.