The U.S. Energy Information Administration (EIA) reported a natural gas withdrawal from storage of 197 Bcf for the week ending Jan. 26, another triple-digit withdrawal and the fourth in a row, which landed at the high end of the wide range of expectations.

Ahead of the 10:30 a.m. ET government report, March Nymex futures were trading 1.2 cents up day/day at $2.112/MMBtu. After the data was released, the contract ticked higher. By around 11 a.m. ET, futures had slipped 2.1 cents to around $2.079.

The latest storage pull followed the massive 326 Bcf withdrawal reported for the prior week, which was the third largest drawdown in EIA records dating back to 2010. The two largest in recent years were a 359 Bcf pull in January 2018 and a draw of 338 Bcf in February 2021, the week of