Natural gas futures on Thursday lost ground for the sixth time in seven sessions after the latest federal inventory report disappointed for a second straight week and forecasts called for easing weather demand.

EIA storage March 5

The April Nymex contract settled at $2.668/MMBtu, down 2.4 cents day/day. May shed 2.5 cents to $2.703.

NGI’s Spot Gas National Avg. clawed out a modest gain for the second straight day, rising 1.0 cent to $2.495.

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 52 Bcf from natural gas storage for the week ended March 5. The result was notably shy of expectations set by analysts ahead of the report.

A Bloomberg survey showed respondents predicting a median 78 Bcf withdrawal, while a Reuters poll landed at a median decline in...