EIA reported a build of 1320 MBbls in U.S. crude-oil inventories for the week ending 5/14/2021. This was larger than the average estimate of 1310 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $62.99, from $62.85 just before 9:30am.
Inventories for the US are now at a deficit of 45.465 MBbls to last year and a deficit of 7.28 MBbls to the five-year average.
