-
US natgas prices drops 5% on mild weather view, record output
U.S. natural gas futures fell more than 5% on Monday on record output and forecasts for mild weather that should limit heating demand. Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange traded 14.2 cents lower, or 5.1%, to $2.67 per million British thermal units at 11:00 a.m. EST (1600 GMT), after hitting a two-month low earlier in the session. "If we don't see cold weather in December or January, the chance of prices getting to $3 is limited. For us to see higher prices, storage surplus have to come down, which comes with colder weather." With U.S. natural gas production at record ... (full story)