The Wall Street Journal reported that natural gas futures dropped due to forecasts for warmer weather throughout the United States. The market is just hitting the “shoulder season,” when companies and homeowners have stopped using air conditioning, but have not yet started turning the heat on.
As quoted in the market news:
Natural gas for October delivery settled 4.8 cents, or 1.7%, lower at $2.837 a million British thermal units on the New York Mercantile Exchange. The more heavily traded November contract settled 1.2% lower at $3.033/MMBtu.