The EIA reported a build of +1,234 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -225 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $76.61 from $76.47 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 30.20 MMBbls (-6.7%) to last year, and a deficit of 22.60 MMBbls (-5.1%) to the five-year average.
