Natural gas futures stumbled on Friday as Hurricane Ian, after ravaging Florida, moved up the Atlantic and menaced Southeast coastal markets. It brought fierce winds and storm surges, curbing cooling demand and pressuring prices.

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At A Glance:

  • Massive storm batters East Coast
  • Weather-driven demand withers
  • Production holds near 2022 high

The November Nymex gas futures contract settled at $6.766/MMBtu, down 10.8 cents day/day. December fell 7.7 cents to $7.065.

NGI’s Spot Gas National Avg. dropped 59.5 cents to $4.535.

Ian was headed toward the Carolinas during trading Friday, carrying maximum sustained winds of 85 mph, according to the National Hurricane Center (NHC). After reaching the coast of South Carolina, the storm was forecast to move farther inland across eastern...