EIA reported a build of 2345 MBbls in U.S. crude-oil inventories for the week ending 10/1/2021. This was larger than the average estimate of 795 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $77.56, from $77.70 just before 9:30am.
Inventories for the US are now at a deficit of 71.539 MBbls to last year and a deficit of 29.73 MBbls to the five-year average.
