Natural gas traders flipped the script on futures pricing Tuesday, with the near-term prospects of another small storage injection stealing the limelight — at least temporarily — from former Hurricane Ida’s crushing toll on demand. The October Nymex contract plunged as much as 9.0 cents lower day/day, but it found support and rebounded sharply to a $4.377/MMBtu settlement, up 7.2 cents from Monday’s close. The November contract settled at $4.425, marking a gain of 6.6 cents on the day.

Henry Hub

At A Glance:

  • GOM supply remains offline
  • Balances still tight given storage
  • Lower temps drive cash lower

Spot gas prices were mixed on Tuesday amid widespread power outages and cooler weather in the eastern United States in Ida’s wake. NGI’s Spot Gas National Avg. drops 8.5 cents to...