EIA reported a build of 3627 MBbls in U.S. crude-oil inventories for the week ending 7/30/2021. This was larger than the average estimate of -2941 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $68.82, from $69.09 just before 9:30am.
Inventories for the US are now at a deficit of 86.744 MBbls to last year and a deficit of 29.79 MBbls to the five-year average.
