The EIA reported a draw of -2,795 MBbls in U.S. crude-oil inventories. The draw was larger than the average estimate of -1,800 as reported by Bloomberg.
Prices were up in the five minutes following the announcement, to $61.22 from $61.19 just before 11:00 AM.
Inventories for the U.S. are now at a deficit of 15.50 MMBbls (-3.4%) to last year, and a deficit of 29.30 MMBbls (-6.2%) to the five-year average.
