The Energy Information Administration (EIA) reported a 33 Bcf withdrawal from storage inventories for the week ending April 1, a larger-than-expected pull.

The storage figures announced Thursday closed the curtain on the traditional withdrawal season, leaving stocks below historical levels. The news reignited momentum that bulls had lost early in Thursday’s trading session and on Wednesday. 

The May Nymex gas futures contract was trading nearly flat on the day at $6.037/MMBtu in the minutes leading up to the EIA report and quickly jumped to $6.071, up 4.1 cents, as the print crossed trading desks. By 11 a.m. ET, the prompt month had surged to $6.149.

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