The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories rose by 1.321 million barrels in the week ended May 14, following a drop of 0.427 million barrels in the previous week. Economists had forecast a build of 1.623 million barrels.

At the same time, gasoline stocks declined by 1.963 million barrels, while analysts had expected a decrease of 0.886 million barrels. Distillate stocks plunged 2.324 million barrels, while analysts had forecast a draw of 0.386 million barrels.

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

U.S. crude oil imports averaged 6.4 million barrels per day last week, increased by 0.9 million barrels per day from the previous week.