January natural gas prices traded down to another new contract low during the early morning hours. Natural gas prices rallied Thursday in response to EIA storage data that showed a slightly larger than expected storage decline. The weekly report showed a draw of 102 bcf, which brought total storage to 3,729 bcf or 10.3% above the 5 year average. Over the last four weeks natural gas storage has declined 114 bcf. However, the same issues continue to plague the natural gas market, including a record production pace and unseasonably warm temperatures in key demand areas across the US.