EIA reported a draw of -7169 MBbls in U.S. crude-oil inventories for the week ending 8/27/2021. This was larger than the average estimate of -2926 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $67.59, from $67.44 just before 9:30am.
Inventories for the US are now at a deficit of 82.368 MBbls to last year and a deficit of 33.47 MBbls to the five-year average.
