Investing.com -- Crude oil stockpiles fell far more than expected last week, according to the Energy Information Administration.
Inventory declined 10.6 million barrels, compared to expectations for a build of 357,000 barrels, the government agency said. On Tuesday, the oil industry's own data showed a draw down of 6.8 million barrels last week, compared to expectations for a draw of 1.2 million.
Crude stored at the Cushing, Oklahoma, hub rose 1.3 million barrels, the EIA said Wednesday.
Oil futures gained on the better than expected report. West Texas Intermediate, the U.S. benchmark, rose 1% on Wednesday. Brent crude, the international standard, also rose 1%.