Market Watch

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October gas futures edged higher Tuesday, gaining 2.9¢ to $5.26 per million Btu, falling back from a morning rally to $5.369/MMBtu. The rise to a new high for the contract coincided with Hurricane Nicholas making landfall in southeast Texas. However, it soon became clear that it would cause little if any supply disruptions unlike Hurricane Ida. The Bureau of Safety and Environment reported that just over 1 billion cubic feet of gas per day of gas remained shut-in in the Gulf Tuesday afternoon.

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