EIA reported a build of 84 Bcf for the week ending 8/30/2019. This was larger than the median estimate of 75 Bcf. Today’s stat fell outside the expected range, which was 83 Bcf on the more bearish end, and 69 Bcf on the more bullish end.
Prices were down in the five minutes following the announcement, to $2.397, from $2.432 just before 9:30am.
Inventories for the US are now at a surplus of 383 Bcf to last year and a deficit of 82 Bcf to the five-year average.