US crude oil inventories increased by 2.998 million barrels to 411.3 million barrels in the week ended July 3, marking the first rise after ten consecutive weeks of declines and compared with market expectations for a 2.4 million-barrel draw.

Crude stocks at the Cushing, Oklahoma, delivery hub decreased by 52 thousand barrels.

Refinery crude runs fell by 172,000 barrels per day.

Gasoline inventories declined by 1.904 million barrels to 212.1 million barrels, exceeding expectations for a 1.6 million-barrel draw.

Distillate stockpiles, which include diesel and heating oil, fell by 4.98 million barrels to 103.6 million barrels, compared with forecasts for a 0.6 million-barrel increase.

Net US crude imports rose by 1.096 million barrels per day.