• Nymex natural gas futures slip as market monitors Hurricane Delta
  • Changes in supply/demand balances expected before and after storm
  • Cash rally continues, but gains not as stout as Monday

The fundamentals were in place for natural gas futures to continue climbing on Tuesday, but the threat of a hurricane striking the Gulf Coast (again) later this week sent prices down several notches. The November Nymex gas futures contract settled at $2.520, off 9.5 cents from Monday’s close. December fell 6.5 cents to $3.096.

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Spot gas prices continued climbing, lifting NGI’s Spot Gas National Avg. 15.0 cents to $1.740.

Like Hurricane Laura in August, Hurricane Delta is poised to quickly sap the momentum building in liquefied natural gas (LNG) demand. The Category 4 storm is expected to...