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Natural Gas Is Worst Performer Among Top Commodities on Weather

  • Traders see autumn forecasts as a harbinger of winter demand
  • Futures close down 10%; they surged to 2-year high last month
Cheniere Poised To Export First LNG Cargoes Today To Brazil

Photographer: Lindsey Janies/Bloomberg

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U.S. natural gas futures plunged the most in more than a month, making the fuel the worst performer among major commodities, as milder autumn forecasts stoked concern that a warm winter will crush heating demand.

Gas for December delivery settled down 10%, the biggest decline in eight weeks, at $2.697 per million British thermal units. That’s in stark contrast to major commodities including oil, which rose amid optimism over prospects for a Covid-19 vaccine.