US crude oil inventories fell by 564,000 barrels in the week ending July 10, less than the expected 2.7 million-barrel decline, following a 399,000-barrel draw the previous week.

Commercial crude inventories, excluding the SPR, have declined by more than 60 million barrels over the past 12 weeks but remain only 9.2 million barrels lower year-to-date.

The SPR fell by another 2.99 million barrels to 316.5 million, the lowest level in more than 43 years and about 415 million barrels below its maximum capacity.

Cushing inventories rose by 238,000 barrels after falling 69,000 barrels the week before.

Gasoline inventories declined by 1.664 million barrels, while distillate inventories increased by 2.3 million barrels.

Meanwhile, US oil production rose to 13.860 million bpd from 13.810 million bpd.