EIA reported a build of 4320 MBbls in U.S. crude-oil inventories for the week ending 10/23/2020. This was larger than the average estimate of 1152 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $37.38, from $37.28 just before 9:30am.
Inventories for the US are now at a surplus of 59.276 MBbls to last year and a surplus of 46.54 MBbls to the five-year average.
