EIA reported a draw of -1528 MBbls in U.S. crude-oil inventories for the week ending 9/3/2021. This was smaller than the average estimate of -4364 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $69.59, from $69.76 just before 10:00am.
Inventories for the US are now at a deficit of 74.534 MBbls to last year and a deficit of 29.32 MBbls to the five-year average.
