The EIA reported a build of +1,303 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -156 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $106.01 from $105.93 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 70.50 MMBbls (-14.5%) to last year, and a deficit of 73.80 MMBbls (-15.1%) to the five-year average.
