The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories fell by 0.876 million barrels in the week ended March 26, following a build of 1.912 million barrels in the previous week. Economists had forecast a gain of 0.107 million barrels.

At the same time, gasoline stocks decreased by 1.735 million barrels, while analysts had expected an advance of 0.730 million barrels. Distillate stocks jumped by 2.542 million barrels, while analysts had forecast an increase of 0.171 million barrels.

Meanwhile, oil production in the U.S. grew by 100,000 barrels a day to 11.100 million barrels a day.

U.S. crude oil imports averaged 6.1 million barrels per day last week, increased by 0.5 million barrels per day from the previous week.