The U.S. Energy Information Administration (EIA) released its crude oil inventories data on Wednesday. U.S. crude inventories increased by 384,000 barrels to 465.8 million in the week to July 03.

Analysts had expected U.S. crude oil inventories to decline by 1 million barrels.

Gasoline inventories climbed by 1.2 million barrels to 218 million barrels last week, according to the EIA.

Crude stocks at the Cushing, Oklahoma, increased by 299,000 barrels to 56.7 million barrels.

U.S. crude oil imports declined by 197,000 barrels per day.

Refineries in the U.S. were running at 94.7% of capacity, down from 95.0% the previous week.