EIA reported a draw of -11 Bcf for the week ending 3/12/2021. This was smaller than the median estimate of -18 Bcf. Today’s stat fell within the expected range, which was -10 Bcf on the more bearish end, and -29 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $2.471, from $2.438 just before 9:30am.
Inventories for the US are now at a deficit of 253 Bcf to last year and a deficit of 93 Bcf to the five-year average.