Mubasher: US crude oil stockpiles climbed by 7 million barrels to 456.5 million barrels in the week ended 5 April, according to the Energy Information Administration (EIA).

Total motor gasoline inventories dropped 7.7 million barrels, while distillate fuel stockpiles went down 100,000 barrels.

US crude refinery runs reached an average of 16.1 million barrels per day (bpd) during the week, 251,000 bpd more than the preceding week’s average, as refineries operated at 87.5% of their operating capacity last week.

US crude imports dropped 164,000 to an average of 6.6 million bpd for the reported week, compared to the prior week, the EIA said.

Following the release of the EIA report, US Nymex crude futures rose 0.50% to $64.30 per barrel (pb), while global benchmark Brent futures climbed 0.59% to $71.03 pb.