EIA reported a build of 21563 MBbls in U.S. crude-oil inventories for the week ending 2/26/2021. This was larger than the average estimate of -735 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $60.78, from $60.69 just before 9:30am.
Inventories for the US are now at a surplus of 41.27 MBbls to last year and a surplus of 20.69 MBbls to the five-year average.
