EIA reported a draw of -5890 MBbls in U.S. crude-oil inventories for the week ending 4/9/2021. This was larger than the average estimate of -2580 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $62.19, from $61.55 just before 9:30am.
Inventories for the US are now at a surplus of 8.053 MBbls to last year and a surplus of 10.79 MBbls to the five-year average.
