The EIA reported a build of +718 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -940 MBbls, as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $77.29 from $77.67 just before 10:00 AM.
Inventories for the U.S. are now at a deficit of 1.60 MMBbls (-0.4%) to last year, and a deficit of 26.10 MMBbls (-5.9%) to the five-year average.
