The EIA reported a build of +1,956 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -1,483 MBbls as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $117.87 from $118.06 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 49.00 MMBbls (-10.5%) to last year, and a deficit of 67.80 MMBbls (-13.9%) to the five-year average.
