American natural gas futures fell by about 2%, to their lowest level in two weeks, as power producers burned less gas.

American natural gas futures fell by about 2% to their lowest level in two weeks on Friday, as power producers consumed less gas after Hurricane Milton left millions of homes and businesses in Florida without power.

The price drop came despite lower production so far this month and forecasts of increased gas flowing to liquefied natural gas (LNG) export plants once Cove Point in Maryland is back in service, which could happen at any time.

Gas futures for November delivery on the New York Mercantile Exchange fell by 4.3 cents, or 1.6%, to 2.632 dollars per million British thermal units, the lowest closing level since September 26.

For the week, the contract fell by around 8% after slipping by around 2% last week.