Mubasher: US crude oil stockpiles climbed by 9.3 million barrels to 434.9 million barrels in the week ended 11 October, the Energy Information Administration (EIA) said.

Meanwhile, the industry-funded American Petroleum Institute (API) estimated a build-up of 10.5 million.

Total motor gasoline inventories fell by 2.6 million barrels, while distillate fuel stockpiles dropped by 3.8 million barrels.

US crude refinery runs hit an average 15.4 million barrels per day (bpd) during the week, declining by 221,000 bpd from the preceding week’s average, the EIA’s weekly report said.

Moreover, refineries operated at 83.1% of their operating capacity last week.

US crude imports edged up by 70,000 bpd to an average of 6.3 million bpd, compared to the previous week, the EIA said.

The EIA’s report was released one day later than usual because of Monday's Columbus Day holiday.

Following the release of the EIA report, US Nymex crude futures fell by 0.51% to $53.09 per barrel (pb), while international benchmark Brent futures dropped by 0.69% to $59.01 pb.