The EIA reported a draw of -7,114 MBbls in U.S. crude-oil inventories. The draw was larger than the average estimate of -7,114 as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $73.68 from $73.75 just before 10:00 AM.
Inventories for the U.S. are now at a surplus of 17.70 MMBbls (4.2%) to last year, and a deficit of 6.70 MMBbls (-1.5%) to the five-year average.
