As natural gas traders looked ahead to the release of updated government storage data, expected to usher in the start of the injection season, futures were trading slightly lower early Thursday. The May Nymex contract was off 1.4 cents to $2.594/MMBtu at around 8:45 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Based on estimates, this week’s U.S. Energy Information Administration (EIA) storage report, scheduled for 10:30 a.m. ET, will mark the start of the injection season, a development that would be bearish compared to historical norms for the report period.

NGI’s estimate for the upcoming EIA report, covering the week ended March 26, is for a build of 18 Bcf. Last year, EIA recorded a 20 Bcf withdrawal for the period, while the five-year average is a pull of 24 Bcf.

A Bloomberg survey showed a median 19...