U.S. Natural Gas Slips After Gaining on Cold Weather
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Natural gas futures in New York dropped the most in seven weeks on forecasts of moderating temperatures that may limit demand from power plants.
Gas slid 3.9 percent. The weather may be mostly normal in the eastern half of the U.S. from Oct. 13 to Oct. 17, compared with earlier forecasts for below-normal temperatures, according to Commodity Weather Group LLC. Gas had jumped 17 percent since Sept. 26 on speculation that the cold would boost demand. A supply surplus has dropped to 8.6 percent from 61 percent in March while shale-gas output sends production toward a record.