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Natural Gas Drops to 5-Month Low on Above-Forecast Supply Gain

Natural gas futures slid to the lowest price in more than five months in New York after U.S. stockpiles increased more than forecast last week.

Gas dropped 1.7 percent after the Energy Information Administration said supplies rose 59 billion cubic feet in the week ended July 26 to 2.845 trillion. Analyst estimates compiled by Bloomberg showed a gain of 56 billion. Commodity Weather Group LLC said the weather may be mostly cooler than average in the eastern two-thirds of the U.S. through Aug. 15.