EIA reported a build of 85 Bcf for the week ending 6/05/2020. Today’s stat fell within the expected range, which was 86 Bcf on the more bearish end, and 70 Bcf on the more bullish end. This was larger than the median estimate of 79 Bcf.
Prices were down in the five minutes following the announcement, to $1.623, from $1.628 just before 9:30am.
Inventories for the US are now at a surplus of 722 Bcf to last year and a surplus of 419 Bcf to the five-year average.