As traders weighed a series of potential surplus-padding storage injections against the prospect of tighter balances ahead on hotter temperatures later this month, natural gas futures climbed modestly early Thursday.

The July Nymex contract was up 3.3 cents to $2.362/MMBtu at around 8:40 a.m. ET.

Estimates ahead of the latest weekly Energy Information Administration (EIA) natural gas storage report, scheduled for 10:30 a.m. ET, have been calling for a triple-digit build in the neighborhood of 115 Bcf.

A Reuters survey found analyst injection estimates ranging from 100 Bcf to 119 Bcf, with a median of 114 Bcf. Bloomberg’s poll spanned estimates from 106 Bcf to 119 Bcf and landed at a median of 116.

The Wall Street Journal’s poll ranged from increases of 105 to 118 Bcf...