The U.S. Energy Information Administration (EIA) released its crude oil inventories data on Wednesday. U.S. crude inventories dropped by 5.45 million barrels to 450.8 million in the week to August 21.
Analysts had expected U.S. crude oil inventories to decline by 2.0 million barrels.
Gasoline inventories increased by 1.7 million barrels, according to the EIA.
Crude stocks at the Cushing, Oklahoma, rose by 256,000 barrels.
U.S. crude oil imports decreased by 839,000 barrels per day.
Refineries in the U.S. were running at 94.5% of capacity, down from 95.1% the previous week.
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