Natural gas futures seesawed as a powerful hurricane hammered Florida Wednesday, curbing demand but raising the specter of production interruptions. Market participants also weighed expectations for another stout storage print amid thin trading heading into contract expiration.

At A Glance:

  • Analysts look for 90s Bcf storage build
  • Hurricane Ian poses damage wildcard
  • Russian threats ignite global uproar

The October Nymex gas futures contract lost ground in the morning but recovered late and settled at $6.868/MMBtu on Wednesday, up 21.7 cents on its final day as the prompt month. It had lost 25.2 cents a day earlier.

November, which takes over at the front of the curve Thursday, gained 19.5 cents to $6.955.

NGI’s Spot Gas National Avg. lost 26.5 cents to $5.305.

During...