The EIA reported a build of +18,961 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -720 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $76.95 from $75.80 just before 09:30 AM.
Inventories for the U.S. are now at a surplus of 25.70 MMBbls (6.2%) to last year, and a surplus of 2.70 MMBbls (0.6%) to the five-year average.
