The Energy Information Administration (EIA) reported a 222 Bcf withdrawal from natural gas storage inventories for the week ending Feb. 4, extending to five the streak of 200-plus Bcf pulls.

The print was in line with expectations, but gas prices responded favorably to the draw given the expanding deficit to historical levels. The March Nymex futures contract was trading about 11.0 cents lower day/day at around $3.900/MMBtu ahead of the EIA report and then bumped up to $3.927 as the print crossed trading desks. By 11 a.m. ET, however, the prompt month weakened again, trading at $3.913.

Ahead of the EIA report, a Reuters poll of 16 analysts produced a range of withdrawal expectations from 206 Bcf to 232 Bcf, with a 223 Bcf median. Projections in a Bloomberg survey as of Wednesday...