The EIA reported a build of +2,400 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +2,033 as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $77.57 from $77.58 just before 09:30 AM.
Inventories for the U.S. are now at a surplus of 44.00 MMBbls (10.7%) to last year, and a surplus of 17.30 MMBbls (4.0%) to the five-year average.
