The Energy Information Administration reported a drawdown of 2.7 million barrels in US crude stocks in the week ending January 11, compared to a 1.7 million drop in the previous reading, while analysts expected a 1.4 million decline, with total stocks down to 437.1 million barrels, marking them 8% above five-year averages for this time of year.
Gasoline stocks rose 7.5 million barrels, making them 6% above averages, while distillate stocks, including heating fuel, rose 3 million barrels, making them 3% below averages.