The EIA reported a build of +515 MBbls in U.S. crude-oil inventories. The build was smaller than the average estimate of +754 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $62.65 from $62.57 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 16.40 MMBbls (-3.6%) to last year, and a deficit of 25.50 MMBbls (-5.4%) to the five-year average.
