The EIA reported a build of +5,520 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +1,515 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $74.12 from $73.78 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 27.30 MMBbls (-6.0%) to last year, and a deficit of 17.20 MMBbls (-3.9%) to the five-year average.
