EIA reported a draw of -2980 MBbls in U.S. crude-oil inventories for the week ending 8/20/2021. This was larger than the average estimate of -2331 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $67.44, from $67.20 just before 9:30am.
Inventories for the US are now at a deficit of 79.888 MBbls to last year and a deficit of 30.38 MBbls to the five-year average.
