Updated Sep 25, 2024
9/25/24
Natural gas futures on Tuesday recovered much of the ground lost the prior session as the market awaited the full force of an expected hurricane crashing into the southern United States.
Tropical Storm Francine shifted eastward Tuesday, sparing the coastal corridor on the Louisiana and Texas borders where LNG export facilities are concentrated from a direct hit, but the strengthening system was impacting vessel traffic and offshore oil and gas production.
October natural gas futures pulled back early gains while holding positive ground Tuesday as the market tried to gauge the impact of Tropical Storm Francine, which could make landfall in Louisiana Wednesday as a Category 2 hurricane.
Benchmark natural gas spot prices are projected to remain relatively flat during the fall shoulder season before strengthening in 2025 as LNG exports outpace supply growth, according to updated federal forecasts.