EIA reported a build of 56 Bcf for the week ending 7/3/2020. This was smaller than the median estimate of 57 Bcf. Today’s stat fell within the expected range, which was 62 Bcf on the more bearish end, and 54 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $1.866, from $1.869 just before 9:30am.
Inventories for the US are now at a surplus of 685 Bcf to last year and a surplus of 454 Bcf to the five-year average.