The EIA reported a build of +1,694 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +611 as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $73.83 from $73.89 just before 10:00 AM.
Inventories for the U.S. are now at a surplus of 2.50 MMBbls (0.6%) to last year, and a deficit of 19.80 MMBbls (-4.5%) to the five-year average.
