EIA reported a draw of -5079 MBbls in U.S. crude-oil inventories for the week ending 5/28/2021. This was larger than the average estimate of -2409 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $69.04, from $68.98 just before 10:00am.
Inventories for the US are now at a deficit of 55.152 MBbls to last year and a deficit of 12.64 MBbls to the five-year average.
