EIA reported a build of 65 Bcf for the week ending 6/26/2020. This was smaller than the median estimate of 73 Bcf. Today’s stat fell outside the expected range, which was 85 Bcf on the more bearish end, and 68 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $1.73, from $1.703 just before 9:30am.
Inventories for the US are now at a surplus of 712 Bcf to last year and a surplus of 466 Bcf to the five-year average.