EIA reported a build of 3290 MBbls in U.S. crude-oil inventories for the week ending 10/29/2021. This was larger than the average estimate of 1526 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $81.62, from $81.81 just before 9:30am.
Inventories for the US are now at a deficit of 58.325 MBbls to last year and a deficit of 24.85 MBbls to the five-year average.
