The
U.S. Energy Information Administration (EIA) reported on Wednesday that crude
inventories fell by 0.240 million barrels in the week ended December 3,
following a draw of 0.910 million barrels in the prior week. Economists had
forecast a decline of 1.705 million barrels.
At
the same time, gasoline stocks surged by 3.882million barrels, while analysts
had projected a build of 1.798 million barrels. The prior week showed a climb of 4.029
million barrels.
Elsewhere,
distillate stocks jumped by 2.734 million barrels, while analysts had expected
an advance of 1.571 million barrels. The prior week revealed a rise of 2.160 million
barrels.
Meanwhile,
oil production in the U.S. rose 100,000 barrels a day to 11.700 million barrels
a day.
U.S.
crude oil imports averaged 6.5 million barrels per day last week, down by
105,000 barrels per day from the prior week.