EIA reported a draw of -137 Bcf for the week ending 1/31/2020. This was greater than the median estimate of -126 Bcf. Today’s stat fell outside the expected range, which was -110 Bcf on the more bearish end, and -136 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $1.858, from $1.856 just before 9:30am.
Inventories for the US are now at a surplus of 615 Bcf to last year and a surplus of 199 Bcf to the five-year average.