The EIA reported a build of +8,487 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -761 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $104.72 from $104.54 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 60.50 MMBbls (-12.5%) to last year, and a deficit of 64.00 MMBbls (-13.1%) to the five-year average.
