EIA reported a draw of -1632 MBbls in U.S. crude-oil inventories for the week ending 8/14/2020. This was smaller than the average estimate of -3079 MBbls as reported by Bloomberg.

Prices were up five minutes following the announcement, to $42.49, from $42.41 just before 9:30am.

Inventories for the US are now at a surplus of 71.942 MBbls to last year and a surplus of 65.23 MBbls to the five-year average.