The EIA reported a draw of -1,508 MBbls in U.S. crude-oil inventories. The draw was smaller than the average estimate of -2,161 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $71.19 from $71.02 just before 10:00 AM.
Inventories for the U.S. are now at a surplus of 31.10 MMBbls (7.4%) to last year, and a deficit of 3.90 MMBbls (-0.8%) to the five-year average.
