Natural gas futures seemed headed for another volatile session Thursday, rallying in early trading ahead of the latest round of government inventory data. The August Nymex contract was up 10.0 cents to $3.750/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Estimates ahead of this week’s Energy Information Administration (EIA) storage report, scheduled for 10:30 a.m. ET, have been close to the five-year average injection of 65 Bcf and last year’s 73 Bcf build.

A Bloomberg survey of 11 analysts produced a range of estimates from 59 Bcf to 75 Bcf, with a median of 68 Bcf. Reuters polled 18 analysts, whose estimates were as low as 55 Bcf and had a median injection of 68 Bcf. NGI modeled a 67 Bcf build for the upcoming report, which covers the week ended June 25.

“It was hotter than normal...