EIA reported a build of 4,514 MBbls in U.S. crude-oil inventories for the week ending 2/18/2022. This was larger than the average estimate of 148 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $97.79, from $97.62 just before 9:30am.
Inventories for the US are now at a deficit of 45.735 MBbls to last year and a deficit of 43.64 MBbls to the five-year average.
