The EIA reported a build of +691 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -225 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $100.98 from $100.20 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 78.70 MMBbls (-16.0%) to last year, and a deficit of 73.90 MMBbls (-15.1%) to the five-year average.
