The EIA reported a build of 8,234 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -1,153 MBbls as reported by Bloomberg
Prices were up in the five minutes following the announcement, to $103.28 from $103.18 just before 10:00 AM.
Inventories for the U.S. are now at a deficit of 22.70 MMBbls (-5.1%) to last year, and a deficit of 48.9 MMBbls (-10.4%) to the five-year average.
