The EIA reported a build of +244 MBbls in U.S. crude-oil inventories. The build was smaller than the average estimate of +1,690 MBbls as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $62.48 from $62.39 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 12.30 MMBbls (-2.7%) to last year, and a deficit of 25.70 MMBbls (-5.5%) to the five-year average.
