Natural Gas Falls for Fourth Day on Cooler Weather in Midwest

Bloomberg reported that natural gas futures dropped for a fourth day to the lowest level in almost 11 months.

The market news is quoted as saying:

“We are in the shoulder season and you aren’t seeing much cooling or heating demand,” said James Williams, an economist at WTRG Economics, an energy research firm in London, Arkansas.

Natural gas for October delivery slid 0.4 cent to $3.701 per million British thermal units on the New York Mercantile Exchange, the lowest settlement price since Oct. 27. Gas fell 2.8 percent this week, the fifth weekly decline in six. Prices have dropped 16 percent this year.

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