EIA reported a draw of -7257 MBbls in U.S. crude-oil inventories for the week ending 2/12/2021. This was larger than the average estimate of -2425 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $60.57, from $60.68 just before 9:30am.
Inventories for the US are now at a surplus of 19.289 MBbls to last year and a surplus of 0.49 MBbls to the five-year average.
