EIA reported a build of 4277 MBbls in U.S. crude-oil inventories for the week ending 11/6/2020. This was larger than the average estimate of 581 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $42.08, from $42.05 just before 11:00am.
Inventories for the US are now at a surplus of 41.924 MBbls to last year and a surplus of 33.60 MBbls to the five-year average.
