October Nymex natural gas futures were drifting on either side of unchanged early Wednesday as traders held onto bullish support from a tight balance while watching Hurricane Francine, now a Category 1 storm, hasten her pace toward Louisiana.
Prompt month futures were less than a penny higher at $2.234/MMBtu as of 8:00 a.m. ET. The contract traded from $2.214 to $2.250.
“As expected, Francine has strengthened and become better organized overnight,” the National Hurricane Center (NHC) said.
