U.S. Natural Gas Futures Settle Higher

Dow Jones05:00

1700 ET - U.S. natural gas futures recover the previous session's losses with the November contract rising 1.6% to end the week up 6.1% at $3.22/mmBtu. Market focus is on Hurricane Isaias as it approaches the U.S. Gulf coast and is expected to make landfall in Alabama Friday evening. The storm led to around 1.3 Bcf/d of output to be shut in as of midday after producers evacuated offshore platforms, according to the Marine Minerals Administration. "November enters the weekend balancing an immediate supply disruption against uncertain storm-related demand losses and a less aggressive cold outlook," Gelber & Associates says in a note. "The storm also threatens electricity demand through outages and cooler, rainy conditions, so the lost production cannot be treated as an equivalent tightening of the national balance."

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