Data published by the U.S. Energy Information Administration (EIA) show that U.S. crude oil inventories totaled 454.7 million barrels in the week to May 20, down 4.2 million barrels on the previous week.

In detail, inventories of distillate products - including heating oil - rose by 2.5 million barrels, according to the report, while gasoline inventories increased by 2 million barrels, again compared with the previous week, the agency continues.

Finally, the EIA states that refineries operated at 94.3% of their operational capacity during the same week, with an average production of 10 million barrels/day.

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