EIA reported a draw of -1980 MBbls in U.S. crude-oil inventories for the week ending 9/25/2020. This was larger than the average estimate of 456 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $39.49, from $39.41 just before 9:30am.
Inventories for the US are now at a surplus of 72.888 MBbls to last year and a surplus of 55.51 MBbls to the five-year average.
