As forecasts tilted in the colder direction overnight, and as the market prepared for a potential triple-digit withdrawal from the latest government inventory data, natural gas futures were trading modestly higher early Thursday. The April Nymex contract was up 2.4 cents to $4.550/MMBtu at around 8:45 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Estimates have been pointing to a triple-digit withdrawal for the latest Energy Information Administration (EIA) storage report, which is scheduled for 10:30 a.m. ET and covers changes to U.S. natural gas stockpiles during the week ended March 4.

Estimates submitted to Bloomberg showed a median prediction for a 118 Bcf decrease for last week. Withdrawal predictions ranged from 108 Bcf to 141 Bcf. Reuters’ poll found estimates ranging from withdrawals of 91 Bcf to 128...