Gas Futures Fluctuate on Outlook for Moderating Weather
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Natural gas futures dropped in New York for the second time in three days on forecasts for warmer-than-normal weather that would cut heating-fuel consumption.
Gas dropped 1.9 percent after MDA Weather Services in Gaithersburg, Maryland, said temperatures may be above normal across most of the contiguous U.S. states through Nov. 23, with normal weather the following week. Heating demand in the U.S. may be 35 percent lower than usual on Nov. 22, data from Weather Derivatives in Belton, Missouri, show.