The EIA reported a draw of -2,508 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 $77.57 from $77.39 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 9.90 MMBbls (-2.1%) to last year, and a deficit of 18.40 MMBbls (-3.9%) to the five-year average.
