The U.S. Energy Information Administration (EIA) released its crude oil inventories data on Wednesday. U.S. crude inventories rose by 2.8 million barrels to 543.4 million in the week to April 29.

Analysts had expected U.S. crude oil inventories to rise by 1.4 million barrels.

Gasoline inventories increased by 536,000 barrels, according to the EIA.

Crude stocks at the Cushing, Oklahoma, climbed by 243,000 barrels.

U.S. crude oil imports rose by 110,000 barrels per day.

Refineries in the U.S. were running at 89.7% of capacity, up from 88.1% the previous week.

Oil production fell by 0.2% last week to 8.825 million barrels a day from 8.938 million barrels a day in the previous week.