The EIA reported a build of +4,489 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -1,350 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $68.99 from $68.85 just before 10:00 AM.
Inventories for the U.S. are now at a surplus of 44.20 MMBbls (10.6%) to last year, and a deficit of 8.90 MMBbls (-1.9%) to the five-year average.
