Data released by the U.S. Energy Information Administration (EIA) show that U.S. crude oil inventories totaled 431.1 million barrels in the week to December 25, down 5.5 million barrels on the previous week.

Inventories of distillates - including heating oil - rose by 10.1 million barrels, while gasoline stocks fell by 10.9 million barrels, again compared with the previous week, the agency continued.

Finally, the EIA states that refineries operated at 93.5% of their operational capacity during the same week, with average production of 8.8 million barrels/day.

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