NEW YORK (TheStreet) -- Shares of California Resources (CRC) are falling by 0.27% to $7.42 as crude oil prices were declining.

This comes after the U.S. data on oil and fuel inventories fell short of expectations, according to The Wall Street Journal.

The U.S. Energy Information Administration's weekly report said that U.S. crude inventories fell by 2.7 million barrels and gasoline stocks grew by 460,000 barrels in the week ending June 12, 2015. Analysts surveyed by Reuters expected crude inventories to fall by 1.7 million barrels and gasoline stocks to fall by 314,000 barrels.

Crude oil (WTI) is falling by 0.1% to $59.91 per barrel Wednesday afternoon and Brent crude is gaining by 0.07% to $63.77, according to the CNBC.com index.

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