The Atlantic storm season was picking up heading into the Fourth of July holiday weekend, prompting weather forecasters to reiterate warnings that several hurricanes could disrupt natural gas markets in what is expected to be an active six-month period.

Natural Gas Intelligence's (NGI) natural gas forward curve chart showing basis price forecasts for hubs key to the LNG market.

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The National Hurricane Center (NHC) said Tuesday that an area of low pressure may develop from a weakening front over Florida or the eastern Gulf of Mexico, aka Gulf of America, by the weekend. Some tropical or subtropical developments could occur later as the low pressure system drifts and moves, NHC said.

The potential for tropical storm development in the next week increased to 30% from 20% on Monday, according to the forecast.