Mubasher: US crude oil stockpiles climbed by 2.2 million barrels to 449 million barrels in the week ended 8 November, the Energy Information Administration (EIA) said.

Total motor gasoline inventories rose by 1.9 million barrels, while distillate fuel stockpiles dropped by 2.5 million barrels.

US crude refinery throughputs averaged 15.9 million barrels per day (bpd) during the week, rising by 154,000 bpd from the previous week’s average, the weekly report said.

Furthermore, refineries operated at 87.8% of their operating capacity last week.

US crude imports fell by 327,000 bpd to an average of 5.8 million bpd, compared to the prior week, the EIA said.

It is worth noting that the EIA released the weekly report one day later than usual due to Veterans Day holiday on Monday.

By 3:49 pm GMT, US Nymex crude futures climbed by 0.96% to $57.67 per barrel (pb), while global benchmark Brent futures jumped by 1.01% to $63 pb.