EIA reported a draw of -201 Bcf for the week ending 1/24/2020. This was smaller than the median estimate of -207 Bcf. Today’s stat fell within the expected range, which was -180 Bcf on the more bearish end, and -226 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $1.842, from $1.856 just before 9:30am.
Inventories for the US are now at a surplus of 524 Bcf to last year and a surplus of 193 Bcf to the five-year average.