Natural-gas prices gained Wednesday but held below $4 a million British thermal units ahead of weekly government storage data, which is expected to show another large stockpile gain. Natural gas for October delivery settled up 9.5 cents, or 2.5%, at $3.911/mmBtu on the New York Mercantile Exchange. Moderate weather has kept natural-gas prices within a range between $3.75 and $4/mmBtu for most of the summer. Natural-gas demand is highly dependent on weather, as hot weather prompts demand for gas-powered electricity to run air-conditioners and cold weather leads to use of natural gas as a heating fuel. The weather is expected to stay mild in the next two weeks. “Nothing has changed in the weather data to lead to a surge in prices,” said NatGasWeather.com in a note. “With only a couple days left to trade the October contract, some position squaring could have aided the […]