Mubasher: US crude oil stockpiles fell by 2.7 million to 437.1 million barrels in the week ended 11 January, official data by the Energy Information Administration (EIA) revealed.

Total motor gasoline stockpiles climbed by 7.5 million barrels, while distillate fuel inventories by rose 3 million barrels.

US crude refinery runs averaged 17.2 million barrels per day (bpd) during the week, 343,000 bpd lower than the previous week’s average, as refineries operated at 94.6% of their operating capacity last week.

US crude imports declined 319,000 to an average of 7.5 million bpd for the same week, compared to the preceding week, the EIA said.     

Following the release of the EIA report, US Nymex crude futures went up 0.15% to $52.19 per barrel (pb), while international benchmark Brent futures rose 0.35% to $60.85 pb.