The EIA reported a draw of -1,425 MBbls in U.S. crude-oil inventories. The draw was larger than the average estimate of -1,100 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $69.50 from $69.45 just before 09:30 AM.
Inventories for the U.S. are now at a deficit of 19.40 MMBbls (-4.4%) to last year, and a deficit of 26.60 MMBbls (-5.9%) to the five-year average.
