US oil futures rose more than a dollar to $72.17 a barrel, after a drop in strategic crude stocks.
And data from the US Energy Information Administration showed, on Wednesday, that crude oil stocks in the United States’ Strategic Petroleum Reserve fell last week to the lowest level since November 2002.
The government agency said crude stocks in Strategic Petroleum Reserve It fell to 596.4 million barrels, according to “Reuters”.
It added that commercial oil stocks in the United States fell last week, while stocks of gasoline and distillates rose, noting that crude stocks fell 4.7 million barrels during the week ending December 17 to 423.6 million barrels, compared to expectations of analysts polled by Reuters, which indicated a decrease capacity of 2.7 million barrels.
Crude stocks at the delivery hub in Cushing, Oklahoma, rose by 1.5 million barrels last week. Gasoline stocks rose by 5.5 million barrels over the past week to reach 224.1 million barrels, while it was expected to rise by 467,000 barrels.
And distillate stocks, which include diesel and heating oil, increased by 396 thousand barrels to 124.15 million barrels, compared to expectations for an increase of 33 thousand barrels.
The Energy Information Administration said that US net imports of crude oil last week rose by 489,000 barrels per day to 3.32 million barrels per day.