EIA reported a draw of -109 Bcf for the week ending 2/28/2020. This was stronger than the median estimate of -105 Bcf. Today’s stat fell within the expected range, which was -89 Bcf on the more bearish end, and -121 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $1.811, from $1.812 just before 9:30am.
Inventories for the US are now at a surplus of 680 Bcf to last year and a surplus of 176 Bcf to the five-year average.