The EIA reported a build of +1,357 MBbls in U.S. crude-oil inventories. In contrast, the market expected a draw of -857 MBbls as reported by Bloomberg.
Prices were down in the five minutes following the announcement, to $77.78 from $77.98 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 9.80 MMBbls (-2.2%) to last year, and a deficit of 21.00 MMBbls (-4.6%) to the five-year average.
