The EIA reported a draw of -6,307 MBbls in U.S. crude-oil inventories. The draw was larger than the average estimate of -2,351 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $87.63 from $87.47 just before 10:00 AM.
Inventories for the U.S. are now at a deficit of 9.30 MMBbls (-2.2%) to last year, and a deficit of 17.60 MMBbls (-4.1%) to the five-year average.
