EIA reported a draw of -122 Bcf for the week ending 12/11/2020. This was equal to the median estimate of -122 Bcf. Today’s stat fell within the expected range, which was -105 Bcf on the more bearish end, and -138 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $2.643, from $2.703 just before 9:30am.
Inventories for the US are now at a surplus of 284 Bcf to last year and a surplus of 243 Bcf to the five-year average.