The U.S. Energy Information Administration (EIA) on Wednesday reported a withdrawal of 7 Bcf of natural gas from storage for the week ended Nov. 17. The draw proved steeper than expectations and sent Nymex natural gas futures higher.

At A Glance:

  • EIA prints 154 Bcf withdrawal 
  • Warmth to follow weekend cold
  • Production nears 98 Bcf/d

Natural gas futures fell for a fourth session Tuesday after an early move higher fizzled. Bulls were undermined by last week’s bearish storage injection still looming large, as well as another production record Monday and weather models’ fickle hot-and-cool wavering about next week’s cold.

The December Nymex natural gas futures contract fell 3.6 cents day/day to $2.846/MMBtu. The January contract fell 5.7 cents to settle at $2.993, below...