Natural gas sinks 4% on warm weather forecasts, pr How quickly the worm turns...Now trading at over USD$3.50 (-3%)...
Forexpros - Natural gas futures came under heavy selling pressure during U.S. morning trade on Monday, as market players continued to monitor shifting weather forecasts over the next few weeks to gauge the strength of early-Autumn U.S. heating demand.
Prices came under additional pressure as investors cashed out of the market to lock in gains from a recent rally that took prices to the highest level since December 2011 last week.
On the New York Mercantile Exchange, natural gas futures for delivery in November traded at USD3.450 per million British thermal units during U.S. morning trade, sinking 4.4%.
It earlier fell by as much as 4.55% to trade at a session low of USD3.447 per million British thermal units.