The EIA reported a build of +2,588 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +462 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $87.41 from $86.77 just before 09:30 AM.
Inventories for the U.S. are now at a surplus of 9.70 MMBbls (2.3%) to last year, and a deficit of 7.50 MMBbls (-1.7%) to the five-year average.
