As traders and analysts continued to contemplate shoulder season balances following a second consecutive triple-digit inventory build, natural gas futures skidded lower early Friday. The November Nymex contract was off 4.4 cents to $6.830/MMBtu at around 8:45 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

The Energy Information Administration (EIA) on Thursday reported a 103 Bcf injection for the week ended Sept. 23. The print landed on the high side of pre-report expectations and narrowed the year-on-five-year average deficit to 306 Bcf, or minus 9.3%.

Total Lower 48 working gas in underground storage stood at 2,977 Bcf as of Sept. 23, according to EIA.

“Compared to degree days and normal seasonality, this week’s reported injection appears loose/bearish by 1.9 Bcf/d relative to the prior five-year...