The EIA reported a draw of -3,728 MBbls in U.S. crude-oil inventories. The draw was larger than the average estimate of -1,484 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $74.77 from $74.69 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 15.50 MMBbls (-3.5%) to last year, and a deficit of 24.80 MMBbls (-5.5%) to the five-year average.
