Natural gas futures were trading close to even early Tuesday as overnight weather trends were mixed and a tropical cyclone approaching the Gulf of Mexico (GOM) prompted further production declines. The November Nymex contract was trading 0.4 cents lower at $3.020/MMBtu at around 8:45 a.m. ET. December was down 1.8 cents to $3.235.

NGI Morning Natural Gas Price & Markets Coverage

Tropical Storm Zeta was about 45 miles east of Progreso, Mexico, and 540 miles south of the mouth of the Mississippi River as of 8 a.m. ET Tuesday, the National Hurricane Center (NHC) said. The storm was traveling northwest at 14 mph and carrying maximum sustained winds of 70 mph.

“Zeta should turn toward the north tonight, and a faster northward to north-northeastward motion is expected on Wednesday,” the NHC said. “On the forecast track, the...