EIA reported a build of 70 Bcf for the week ending 4/24/2020. This was smaller than the median estimate of 71.8 Bcf. Today’s stat fell within the expected range, which was 80 Bcf on the more bearish end, and 55 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $1.885, from $1.866 just before 9:30am.
Inventories for the US are now at a surplus of 783 Bcf to last year and a surplus of 360 Bcf to the five-year average.