EIA reported a build of 1912 MBbls in U.S. crude-oil inventories for the week ending 3/19/2021. This was larger than the average estimate of 704 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $59.45, from $59.69 just before 9:30am.
Inventories for the US are now at a surplus of 48.974 MBbls to last year and a surplus of 31.48 MBbls to the five-year average.
