Data published by the U.S. Energy Information Administration (EIA) show that U.S. crude oil inventories stood at 412.7 million barrels for the week ending January 6, down 2 million barrels on the previous week.

The agency also reported that distillate inventories - including heating oil - rose by 3.1 million barrels, while gasoline inventories were up by 5.9 million barrels, again compared with the previous week.

Finally, the EIA reported that refineries operated at 91.7% of their operating capacity during the same week, with average production of 9.3 million barrels/day.

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