EIA reported a draw of -48 Bcf for the week ending 3/06/2020. This was weaker than the median estimate of -55 Bcf. Today’s stat fell within the expected range, which was -46 Bcf on the more bearish end, and -72 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $1.806, from $1.804 just before 9:30am.
Inventories for the US are now at a surplus of 796 Bcf to last year and a surplus of 227 Bcf to the five-year average.