The EIA reported a build of +2,089 MBbls in U.S. crude-oil inventories. The build was larger than the average estimate of +1,600 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $69.08 from $68.96 just before 10:00 AM.
Inventories for the U.S. are now at a deficit of 9.10 MMBbls (-2.1%) to last year, and a deficit of 19.80 MMBbls (-4.4%) to the five-year average.
