The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories declined by 6.718 million barrels in the week ended June 25, following a tumble of 7.614 million barrels in the previous week. Economists had forecast a draw of 4.686 million barrels.

At the same time, gasoline stocks increased by 1.522 million barrels, while analysts had expected a fall of 0.886 million barrels. Distillate stocks declined by 0.869 million barrels, while analysts had forecast a build of 0.486 million barrels.

Meanwhile, oil production in the U.S. remained unchanged at 11.100 million barrels a day.

U.S. crude oil imports averaged 6.4 million barrels per day last week, decreased by 0.5 million barrels per day from the previous week.