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Weather Jitters Send U.S. Natural Gas Down Most Since February

  • Forecasts show mild conditions stretching into early December
  • Production from shale formations has climbed to a record
A Chesapeake Energy Corp. floorman, works on a Chesapeake natural gas rig in the North Texas Barnett Shale bed rock deposit near Kennendale, Texas, U.S.

Photographer: Matt Nager/Bloomberg 

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Forecasts for a warm start to December are raising the specter of a third straight mild winter, sending U.S. natural gas futures sliding the most since late February.

A midday update to the government’s Global Forecast System weather model maintained a “much too warm” pattern through Dec. 6, despite a couple of cool shots across the northern tier of the country, according to NatGasWeather.com. The low in Chicago on November 29 may reach 40 degrees Fahrenheit (4 Celsius), 12 above normal, according to AccuWeather Inc.