EIA reported a draw of -448 MBbls in U.S. crude-oil inventories for the week ending 8/6/2021. This was larger than the average estimate of 227 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $67.51, from $67.68 just before 9:30am.
Inventories for the US are now at a deficit of 79.819 MBbls to last year and a deficit of 27.89 MBbls to the five-year average.
