EIA reported a draw of -1,047 MBbls in U.S. crude-oil inventories for the week ending 1/28/2022. This was smaller than the average estimate of 1,055 MBbls as reported by Bloomberg.
Prices were down five minutes following the announcement, to $87.57, from $87.84 just before 9:30am.
Inventories for the US are now at a deficit of 61.51 MBbls to last year and a deficit of 38.33 MBbls to the five-year average.
