The EIA reported a build of +8,408 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -1,322 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $80.14 from $80.11 just before 10:00 AM.
Inventories for the U.S. are now at a surplus of 34.30 MMBbls (8.3%) to last year, and a surplus of 12.20 MMBbls (2.8%) to the five-year average.
