Natural-gas prices hit their lowest close in nearly a year as warm October weather suggests heating demand won’t pick up soon. The front-month November contract settled down 9.6 cents, or 2.6%, to $3.67 a million British thermal units on the New York Mercantile Exchange. That is the lowest closing price for the front-month contract since Nov. 19 when it closed at $3.556/mmBtu. A five-session losing streak put gas below $3.70/mmBtu for the first time since Nov. 22. Weather forecasts, already warm for October, grew even warmer over the weekend. Weather is one of the most important variables for natural gas prices because the fuel heats half of U.S. homes. The new forecasts suggest this October will be the third warmest in 15 years: comfortable weather with little demand for gas heating, according to Commodity Weather Group LLC in Bethesda, Md. “We’re seeing a massive demand […]