The EIA reported a draw of -4,237 MBbls in U.S. crude-oil inventories. The draw was larger than the average estimate of -600 as reported by Bloomberg. Prices were up in the five minutes following the announcement, to $70.39 from $70.33 just before 12:00 PM. Inventories for the U.S. are now at a deficit of 20.80 MMBbls (-4.8%) to last year, and a deficit of 26.30 MMBbls (-5.9%) to the five-year average.
