The EIA reported a build of +3,955 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -1,994 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $88.92 from $88.52 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 8.70 MMBbls (-2.0%) to last year, and a deficit of 11.30 MMBbls (-2.6%) to the five-year average.
