The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories climbed by 5.654 million barrels in the week ended July 3. Economists had forecast a decrease of 3.400 million barrels.

At the same time, gasoline stocks fell by 4.839 million barrels, while analysts had expected a drop of 0.002 million barrels. Distillate stocks increased by 3.136 million barrels, while analysts had forecast a decline of 0.075 million barrels.

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

U.S. crude oil imports averaged 7.4 million barrels per day last week, increased by 1.4 million barrels per day from the previous week.