Amid expectations for potentially lasting demand impacts from former Hurricane Ida, natural gas futures fell in early trading Tuesday. The October Nymex contract was off 6.8 cents to $4.237/MMBtu at around 8:55 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

As of early Tuesday Ida was moving over northern Mississippi as a tropical depression, carrying maximum sustained winds of 30 mph, according to the National Hurricane Center (NHC).

“The depression is moving toward the northeast near 12 mph, and Ida is expected to continue gradually accelerating to the northeast over the next couple days,” the NHC said. “…Little change in strength is forecast during the next 48 hours.”

While the storm itself has weakened, Ida’s impacts on the natural gas market will linger for days or weeks to come, Wood Mackenzie...