The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 128 Bcf natural gas from storage for the week ended Jan. 22. The print was notably lighter than a week earlier and came in well below the midpoint of analysts’ estimates.

EIA storage Jan 22

Nymex natural gas futures, already down ahead of the 10:30 a.m. ET report from EIA, fell further after the release.

“It was warmer than normal over most of the U.S.” during the covered period, NatGasWeather said. The firm had expected a pull of at least 137 Bcf, though it noted that the Martin Luther King Jr. Day holiday shortened trading last week and may have impacted withdrawals.

Liquefied natural gas (LNG) volumes were also lighter during the EIA period, largely because of heavy fog along the Gulf Coast that...