With Florida bracing for impact and analysts predicting volatility ahead of this week’s front month contract expiration, natural gas futures posted modest gains in early trading Tuesday. The October Nymex contract was up 4.2 cents to $6.945/MMBtu at around 8:45 a.m. ET. November was up 2.9 cents to $7.043.

NGI Morning Natural Gas Price & Markets Coverage

After making landfall over western Cuba, Hurricane Ian was approaching the southeastern Gulf of Mexico early Tuesday, carrying maximum sustained winds of 125 mph, according to the National Hurricane Center (NHC).

The storm was expected to “pass west of the Florida Keys later today and approach the west coast of Florida” by Wednesday or Wednesday night, the NHC said. 

Ian was measured as a Category 3 hurricane. With strengthening expected later Tuesday, the storm was...