EIA reported a draw of -98 Bcf for the week ending 2/26/2021. This was smaller than the median estimate of -142 Bcf. Today’s stat fell outside the expected range, which was -131 Bcf on the more bearish end, and -162 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $2.701, from $2.77 just before 9:30am.
Inventories for the US are now at a deficit of 277 Bcf to last year and a deficit of 178 Bcf to the five-year average.