EIA reported a draw of -4089 MBbls in U.S. crude-oil inventories for the week ending 7/23/2021. This was larger than the average estimate of -2407 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $72.04, from $71.87 just before 9:30am.
Inventories for the US are now at a deficit of 100.982 MBbls to last year and a deficit of 36.50 MBbls to the five-year average.
