EIA reported a draw of -3576 MBbls in U.S. crude-oil inventories for the week ending 12/24/2021. This was larger than the average estimate of -3166 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $76.71, from $76.05 just before 9:30am.
Inventories for the US are now at a deficit of 79.539 MBbls to last year and a deficit of 40.05 MBbls to the five-year average.
