The U.S. Energy Information Administration (EIA) reported on Wednesday that crude inventories fell by 0.447 million barrels in the week ended August 6, following a build of 3.626 million barrels in the previous week. Economists had forecast a draw of 1.270 million barrels.

At the same time, gasoline stocks decreased by 1.400 million barrels, while analysts had expected a decline of 1.660 million barrels. Distillate stocks grew by 1.766 million barrels, while analysts had forecast a drop of 0.472 million barrels.

Meanwhile, oil production in the U.S. rose by 100,000 barrels a day to 11,300 million barrels a day.

U.S. crude oil imports averaged 6.4 million barrels per day last week, down by 36,000 barrels per day from the previous week.