Natural gas futures returned to meandering Friday but held above previous resistance at $2.300/MMBtu through early trade. The seesawing followed Thursday’s gains on a bullish storage print, while focus returned to the tropics, where threats to production and demand loomed.
The October Nymex futures contract was up 2.3 cents to $2.371 as of 8:20 a.m. ET. The prompt month moved between $2.325 and $2.373.
The Gulf Coast states and Florida were potentially in the crosshairs of another impactful weather event. The National Hurricane Center (NHC) was tracking two disturbances and had concerns about a potential system looming in the northwestern Caribbean Sea, with the possibility of development next week.
