The U.S. Energy Information Administration (EIA) on Thursday reported a natural gas withdrawal from storage of 326 Bcf for the week ended Jan. 19, the third highest on record, which landed near expectations and blew away the year-earlier decline.

Ahead of the 10:30 a.m. ET government report, February Nymex futures were trading up 6.7 cents day/day at $2.708/MMBtu. After the data was released, the contract chopped lower to around $2.680. By around 11 a.m. ET, futures were trading around $2.664, up 2.3 cents on the day.

The withdrawal follows the two largest in recent years: 359 Bcf in January 2018 and 338 Bcf in February 2021, the week of Winter Storm Uri, according to EIA records that date back to 2010. 

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