The EIA reported a build of +4,140 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -196 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $78.64 from $78.47 just before 09:30 AM.
Inventories for the U.S. are now at a surplus of 37.40 MMBbls (9.0%) to last year, and a surplus of 14.80 MMBbls (3.4%) to the five-year average.
