EIA reported a build of 65 Bcf for the week ending 7/26/2019. This was larger than the median estimate of 52 Bcf. Today’s stat fell outside the expected range, which was 59 Bcf on the more bearish end, and 47 Bcf on the more bullish end.

Prices were down in the five minutes following the announcement, to $2.249, from $2.298 just before 9:30am.

Inventories for the US are now at a surplus of 334 Bcf to last year and a deficit of 123 Bcf to the five-year average.