Natural Gas News – October 10, 2024

Natural Gas News - October 10, 2024

Hurricane Milton Brings Volatility to Natural Gas Futures

Hurricane Milton's landfall in Florida threatens natural gas demand, driving futures down toward the 50-day moving average. Nearly 6 million Floridians face evacuation orders as Hurricane Milton nears, fueling concerns over power outages. Natural gas market sentiment turns bearish as forecasts predict reduced demand due to storm driven cooler temperatures. U.S. natural gas futures fell sharply as traders priced in potential demand destruction due to Hurricane
Milton, which is approaching central Florida. The market is facing downward pressure as it hovers around key technical levels, with prices currently near three support pivots at $2.711, $2.662, and $2.610. The downside momentum suggests natural gas could test the 50-day moving average at $2.540 in the near term. Hurricane
Milton, projected to make landfall as… For more info go to https://tinyurl.com/59ct274u

Prices Steady as Milton Sparks Demand Destruction Fears

U.S. natural gas futures stabilize at $2.711 after sharp Monday selloff driven by Hurricane Milton concerns. Hurricane Milton threatens Florida's natural gas-powered grid, raising fears of widespread power outages and demand loss. NatGasWeather predicts low natural gas demand through Sunday as Hurricane Milton
cools temperatures across Florida. Market forecast remains bearish as Gulf production risks are offset by weaker demand from hurricane induced power outages. U.S. natural gas futures are hovering near flat on Tuesday, stabilizing at $2.711 after Monday's sharp selloff. The recent downturn was driven by growing concerns over demand
destruction from Hurricane Milton, which is approaching Florida's coast. The Category 4 hurricane is expected to cause significant power outages, affecting… For more info go to https://tinyurl.com/yck6dhtt