Doha: US crude oil inventories unexpectedly rose in the week ending July 4, while gasoline inventories fell due to increased fuel demand ahead of the Fourth of July Independence Day holiday.

According to Qatar News Agency, the Energy Information Administration reported that crude oil inventories rose by 7.1 million barrels to 426 million barrels during the week.

Gasoline inventories saw a decrease of 2.7 million barrels, dropping to 229.5 million barrels, nearly double the anticipated decrease of 1.5 million barrels. Gasoline demand increased by 6 percent, reaching 9.2 million barrels per day last week.

Distillate inventories, which include diesel and heating oil, fell by 825,000 barrels to 102.8 million barrels, compared to expectations for a 300,000-barrel decline. This marks the lowest level since April 2005. Refinery crude oil runs decreased by 99,000 barrels per day, and refinery utilization rates fell by 0.2 percentage points to 94.7% of total capacity.

The Energy Information Administration noted a decline in net US crude oil imports, which fell by 1.36 million barrels per day.