The EIA reported a build of +2,909 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -2,300 MBbls as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $74.66 from $74.81 just before 09:30 AM.
Inventories for the U.S. are now at a surplus of 24.60 MMBbls (5.9%) to last year, and a deficit of 2.40 MMBbls (-0.5%) to the five-year average.
