EIA reported a draw of -7990 MBbls in U.S. crude-oil inventories for the week ending 4/30/2021. This was larger than the average estimate of -2644 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $66.40, from $66.49 just before 9:30am.
Inventories for the US are now at a deficit of 42.514 MBbls to last year and a deficit of 9.69 MBbls to the five-year average.
