EIA reported a draw of -2101 MBbls in U.S. crude-oil inventories for the week ending 11/12/2021. This was larger than the average estimate of 1074 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $80.05, from $79.84 just before 9:30am.
Inventories for the US are now at a deficit of 55.703 MBbls to last year and a deficit of 32.81 MBbls to the five-year average.
