EIA reported a draw of -29 Bcf for the week ending 3/20/2020. This was equal to the median estimate of -29 Bcf. Today’s stat fell within the expected range, which was -21 Bcf on the more bearish end, and -36 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $1.667, from $1.659 just before 9:30am.
Inventories for the US are now at a surplus of 888 Bcf to last year and a surplus of 292 Bcf to the five-year average.