U.S. crude oil inventories decreased in the week ending Jan. 4, the U.S. Energy Information Administration (EIA) said in a report on Wednesday.

According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 1.7 million barrels from the previous week. At 439.7 million barrels, U.S. crude oil inventories are about 8 percent above the five-year average for this time of year.

In the previous week ending Dec. 28, EIA reported that U.S. crude oil inventories remained virtually unchanged.

Total motor gasoline inventories increased by 8.1 million barrels last week and are about 5 percent above the five-year average for this time of year.

Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories increased by 10.6 million barrels last week and are about 5 percent below the five-year average for this time of year.