Natural gas closed at a one-month low as mild weather softened the outlook for demand, pushing down prices for a second straight day. The front-month November contract settled down 1.6 cents, or 0.4%, to $3.80 a million British thermal units on the New York Mercantile Exchange. It was the first day in three weeks that the intraday price dropped below $3.80/mmBtu and the lowest closing price for natural gas since Sept. 5. Prices had fallen three times as far in the morning–as low as $3.764/mmBtu–but bounced back several times, including a rally just before the trading floor closed. Traders simply don’t want to go too far down on gas with winter weather and a sharp rise in heating demand likely only a few weeks away, said John Woods, president of JJ Woods Associates and a Nymex floor trader. “You’ve got November right around the corner,” […]