EIA reported a build of 501 MBbls in U.S. crude-oil inventories for the week ending 10/2/2020. This was smaller than the average estimate of -880 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $39.56, from $39.52 just before 9:30am.
Inventories for the US are now at a surplus of 70.285 MBbls to last year and a surplus of 54.99 MBbls to the five-year average.
