EIA reported a build of 13798 MBbls in U.S. crude-oil inventories for the week ending 3/5/2021. This was larger than the average estimate of 333 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $64.52, from $64.25 just before 9:30am.
Inventories for the US are now at a surplus of 54.284 MBbls to last year and a surplus of 29.96 MBbls to the five-year average.
