EIA reported a build of 515 MBbls in U.S. crude-oil inventories for the week ending 1/14/2022. This was smaller than the average estimate of -1,330 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $87.49, from $87.47 just before 9:30am.
Inventories for the US are now at a deficit of 68.398 MBbls to last year and a deficit of 35.36 MBbls to the five-year average.
