October Nymex natural gas (NGV24) on Tuesday closed down by -0.062 (-2.37%).
Oct nat-gas prices Tuesday fell back from a 3-month high and posted moderate losses. Updated weather forecasts Tuesday project Tropical Storm Helene to make landfall on the US Gulf Coast farther east than previous projections, sparing most US Gulf offshore nat-gas platforms. The US National Hurricane Center said Tuesday that the storm is expected to strengthen into a possible Category 3 hurricane as it moves north through the Gulf of Mexico and makes landfall near the Florida panhandle. According to the EIA, 5% of total US dry nat-gas production comes from the Gulf of Mexico, and 51% of total US nat-gas processing plant capacity is located along the US Gulf coast.
