EIA reported a draw of -3522 MBbls in U.S. crude-oil inventories for the week ending 4/2/2021. This was larger than the average estimate of -928 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $59.21, from $59.23 just before 9:30am.
Inventories for the US are now at a surplus of 29.12 MBbls to last year and a surplus of 22.68 MBbls to the five-year average.
