The U.S. Energy Information Administration (EIA) released its inventories figures on Wednesday. U.S. crude oil inventories decreased by 2.67 million barrels to 482.17 million barrels last week.

Crude stocks at the Cushing, Oklahoma, declined by 241,000 barrels to 60.44 million barrels.

Crude oil production fell by 112,000 barrels a day to 9.262 million.

Gasoline stockpiles were down 2.77 million barrels to 223.9 million, the lowest level since December 12.

U.S. refineries operated at 92.4% of their capacity, up from 91.2% the previous week.