EIA reported a build of 38 Bcf for the week ending 4/03/2020. This was larger than the median estimate of 25 Bcf. Today’s stat fell outside the expected range, which was 36 Bcf on the more bearish end, and 9 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $1.795, from $1.756 just before 9:30am.
Inventories for the US are now at a surplus of 876 Bcf to last year and a surplus of 324 Bcf to the five-year average.