EIA reported a build of 81 Bcf for the week ending 5/15/2020. This was smaller than the median estimate of 83 Bcf. Today’s stat fell within the expected range, which was 92 Bcf on the more bearish end, and 76 Bcf on the more bullish end.
Prices were up in the five minutes following the announcement, to $1.742, from $1.735 just before 9:30am.
Inventories for the US are now at a surplus of 779 Bcf to last year and a surplus of 407 Bcf to the five-year average.