October Natural Gas Futures Trip Lower as Market Eyes Potential Demand-Damaging Storm

By Jodi Shafto

on
Published in: Daily Gas Price Index Filed under:

The soon-to-expire October Nymex natural gas futures contract reversed overnight gains, ticking a few cents lower early Tuesday on the heels of an impressive 17.9-cent advance Monday. Gains were motivated by the uncertain impact of a large storm system in the Gulf of Mexico (GOM) and a tight market balance.

None

October futures were 1.2 cents lower at $2.601/MMBtu as of 8:30 a.m. ET, after trading as high as $2.674. The contract was set to expire at the close of business Thursday, ceding to the November contract, which was 2.5 cents lower at $2.829.

“Barring a dramatic turnaround back to the downside,” the October contract “looks poised to roll off the board well above recent contract settlements,” said Pinebrook Energy Advisors Andy Huenefeld, managing partner.

Related Tags

Jodi Shafto

Jodi Shafto joined NGI as a Senior Natural Gas Reporter in October 2023. Before that, she was a business news reporter for South Carolina's largest daily newspaper, The Post and Courier, and was a Senior Energy Markets Reporter at S&P Global Market Intelligence. Based out of Charleston, Jodi has covered US energy markets since 2005 as a reporter, editor and analyst. A New Jersey native, she holds a BS in Journalism from Bowling Green State University.