EIA reported a draw of -115 Bcf for the week ending 2/07/2020. This was a stronger withdrawal than the median estimate of -108 Bcf. Today’s stat fell within the expected range, which was -100 Bcf on the more bearish end, and -120 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $1.855, from $1.858 just before 9:30am.
Inventories for the US are now at a surplus of 601 Bcf to last year and a surplus of 215 Bcf to the five-year average.
