• BREAKING: The U.S. EIA reported an injection of 89 Bcf into natural gas storage for the week ending Sept. 11, exceeding high end of analyst expectations
  • Sally made landfall on Alabama’s coast Wednesday
  • The hurricane delivered strong winds and massive flooding

Natural gas futures rallied over the first two days of the week but gave up that ground Wednesday as expectations for a stout storage build overlapped with the demand uncertainty inflicted by Hurricane Sally after it moved into the Gulf of Mexico (GOM) and made landfall.

EIA Storage Sept 11

The October Nymex contract dropped 9.5 cents day/day and settled at $2.267/MMBtu. November fell 7.7 cents to $2.664.

Spot gas prices also declined as cooling demand eased along with fading summer heat. NGI’s Spot Gas National Avg. declined 5.5...