The EIA reported a build of +7,647 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +2,327 as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $75.27 from $75.56 just before 10:00 AM.
Inventories for the U.S. are now at a surplus of 63.70 MMBbls (15.3%) to last year, and a surplus of 40.20 MMBbls (9.2%) to the five-year average.
