EIA reported a draw of -431 MBbls in U.S. crude-oil inventories for the week ending 10/15/2021. This was smaller than the average estimate of 1288 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $83.05, from $82.45 just before 9:30am.
Inventories for the US are now at a deficit of 62.565 MBbls to last year and a deficit of 26.58 MBbls to the five-year average.
