First up, the estimates going into the report via FX Empire:
According to Natural Gas Intelligence (NGI), a Bloomberg survey found a median estimate of a 3 Billion Cubic Foot (Bcf) decrease in storage with estimates ranging from a withdrawal of 12 Bcf to an injection of 5 Bcf. The results of a Wall Street Journal poll ranged from a pull of 12 Bcf to an injection of 10 Bcf and landed at an average decrease of 2 Bcf.
A Reuters survey found estimates ranging from a withdrawal of 12 Bcf to an injection of 5 Bcf, with a median decrease of 3 Bcf.
NGI’s storage model, however, predicted a 5 Bcf increase. Energy Aspects issued a preliminary estimate of a 10 Bcf injection.
Last week, the EIA reported a withdrawal of 36 Bcf for the week-ended October 30. It was the first October pull in more than 10 years and reflected, in part, strengthening demand for U.S. liquefied natural gas (LNG) exports, yet prices still plunged.....
And from the Energy Information Administration:
Summary
Working gas in storage was 3,927 Bcf as of Friday, November 6, 2020, according to EIA estimates. This represents a net increase of 8 Bcf from the previous week. Stocks were 196 Bcf higher than last year at this time and 176 Bcf above the five-year average of 3,751 Bcf. At 3,927 Bcf, total working gas is within the five-year historical range.
For information on sampling error in this report, see Estimated Measures of Sampling Variability table below.
Finally, from the CME a week's worth of price action (30-minute bars). That burst of algo enthusiasm upon release got to $3.087.
