EIA reported a build of 4590 MBbls in U.S. crude-oil inventories for the week ending 5/1/2020. This was smaller than the average estimate of 8666 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $23.77, from $23.34 just before 9:30am.
Inventories for the US are now at a surplus of 61.654 MBbls to last year and a surplus of 52.13 MBbls to the five-year average.
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