The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories tumbled by 5.241 million barrels in the week ended June 4, following a plunge of 5.080 million barrels in the previous week. Economists had forecast a drop of 2.036 million barrels.

At the same time, gasoline stocks surged by 7.046 million barrels, while analysts had expected a build of 0.698 million barrels. Distillate stocks rose by 4.412 million barrels, while analysts had forecast an advance of 1.358 million barrels.

Meanwhile, oil production in the U.S. increased by 200,000 barrels a day to 11,000 million barrels a day.

U.S. crude oil imports averaged 6.6 million barrels per day last week, increased by 1.0 million barrels per day from the previous week.