EIA reported a draw of -6718 MBbls in U.S. crude-oil inventories for the week ending 6/25/2021. This was larger than the average estimate of -4418 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $73.87, from $73.71 just before 9:30am.
Inventories for the US are now at a deficit of 88.38 MBbls to last year and a deficit of 34.08 MBbls to the five-year average.
