The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories fell by 7.195 million barrels in the week ended June 26. Economists had forecast a decrease of 0.950 million barrels.

At the same time, gasoline stocks rose by 1.199 million barrels, while analysts had expected a drop of 1.583 million barrels. Distillate stocks decreased by 0.593 million barrels, while analysts had forecast a decline of 0.393 million barrels.

Meanwhile, oil production in the U.S. remained unchanged at 11.000 million barrels a day.

U.S. crude oil imports averaged 6.0 million barrels per day last week, decreased by 0.6 million barrels per day from the previous week.