EIA reported a build of 2107 MBbls in U.S. crude-oil inventories for the week ending 7/16/2021. This was smaller than the average estimate of -3912 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $69.41, from $69.32 just before 9:30am.
Inventories for the US are now at a deficit of 92.001 MBbls to last year and a deficit of 35.93 MBbls to the five-year average.
