The EIA reported a build of +8,700 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +510 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $74.19 from $74.16 just before 09:30 AM.
Inventories for the U.S. are now at a surplus of 15.90 MMBbls (3.7%) to last year, and a deficit of 2.60 MMBbls (-0.6%) to the five-year average.
