EIA reported a draw of -109 Bcf for the week ending 1/10/2020. This was larger than the median estimate of -94 Bcf. Today’s stat fell outside the expected range, which was -84 Bcf on the more bearish end, and -101 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $2.164, from $2.137 just before 9:30am.
Inventories for the US are now at a surplus of 494 Bcf to last year and a surplus of 149 Bcf to the five-year average.