A report released by the Energy Information Administration on Wednesday showed a pullback by U.S. crude oil inventories in the week ended January 23rd.
The EIA said crude oil inventories fell by 2.3 million barrels last week after jumping by 3.6 million barrels in the previous week.
At 423.8 million barrels, U.S. crude oil inventories are about 3 percent below the five-year average for this time of year, the EIA said.
Meanwhile, the report said gasoline inventories crept up by 0.2 million barrels last week and are about 5 percent above the five-year average for this time of year.
Distillate fuel inventories, which include heating oil and diesel, also inched up by 0.3 million barrels last week and are about 1 percent above the five-year average for this time of year, the EIA said.
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