EIA reported a build of 594 MBbls in U.S. crude-oil inventories for the week ending 4/16/2021. This was smaller than the average estimate of -3265 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $61.88, from $61.81 just before 9:30am.
Inventories for the US are now at a deficit of 10.601 MBbls to last year and a surplus of 7.82 MBbls to the five-year average.
