Reuters reported that near-record levels of production coupled with forecasts for mild US weather for the next two weeks brought natural gas futures down for the third day in a row.
As quoted in the market news:
Front-month gas futures on the New York Mercantile Exchange ended down 7.8 cents, or 2.7 percent, at $2.865 per million British thermal units after trading between $2.856 and $2.983. The nearby contract has dropped 6.5 percent in the last three sessions.
On Thursday, the front month climbed to a five-week high of $3.07 before settling slightly lower on profit-taking.