EIA reported a build of 4352 MBbls in U.S. crude-oil inventories for the week ending 1/15/2021. This was larger than the average estimate of -1739 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $52.62, from $52.64 just before 9:30am.
Inventories for the US are now at a surplus of 58.052 MBbls to last year and a surplus of 42.79 MBbls to the five-year average.
