The EIA reported a build of +3,514 MBbls in U.S. crude-oil inventories. The build was smaller than the average estimate of +4,041 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $78.66 from $78.42 just before 10:00 AM.
Inventories for the U.S. are now at a deficit of 35.00 MMBbls (-7.3%) to last year, and a deficit of 7.30 MMBbls (-1.6%) to the five-year average.
