EIA reported a draw of -92 Bcf for the week ending 1/17/2020. This was larger than the median estimate of -88 Bcf. Today’s stat fell within the expected range, which was -75 Bcf on the more bearish end, and -98 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $1.945, from $1.968 just before 9:30am.
Inventories for the US are now at a surplus of 554 Bcf to last year and a surplus of 251 Bcf to the five-year average.