The EIA reported a draw of -1,019 MBbls in U.S. crude-oil inventories. The draw was smaller than the average estimate of -2,046 as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $110.76 from $110.92 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 64.80 MMBbls (-13.4%) to last year, and a deficit of 69.20 MMBbls (-14.1%) to the five-year average.
