The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 58 Bcf natural gas from storage for the week ended March 10. The result was well below comparable prints of the recent past but close to market expectations. Nymex natural gas futures forged ahead following the EIA result.

Ahead of the 10:30 ET EIA report, the April futures contract was up 5.9 cents at $2.498/MMBtu. The prompt month held around $2.490 when the EIA data was released.

By 11 a.m. ET, it traded at $2.520, up 8.1 cents from the previous day’s close.

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Prior to the report, NGI modeled a withdrawal of 64 Bcf. Major...