The U.S. Energy Information Administration (EIA) released its crude oil inventories data on Wednesday. U.S. crude inventories fell by 1.682 million barrels to 453.6 million in the week to August 07.

Analysts had expected U.S. crude oil inventories to decline by 2.00 million barrels.

Gasoline inventories fell by 1.3 million barrels to 57.1 million barrels last week, according to the EIA.

Crude stocks at the Cushing, Oklahoma, declined by 542,000 barrels.

U.S. crude oil imports increased by 393,000 barrels per day.

Oil production in the U.S. was down to 9.39 million barrels in last week from 9.47 million in the previous week.

Refineries in the U.S. were running at 96.1% of capacity.