The EIA reported a build of +12,018 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +3,299 as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $77.67 from $77.85 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 29.60 MMBbls (-6.3%) to last year, and a deficit of 8.40 MMBbls (-1.9%) to the five-year average.
