Natural gas closed below $3.80 a million British thermal units for the first time in more than a month as a larger-than-expected addition to stockpiles pushed down prices. The front-month November contract settled down 0.4 cent, or 0.1%, to $3.796 a million British thermal units on the New York Mercantile Exchange. It was the lowest closing price since Sept. 5. Prices had dipped to nearly a two-month low in the morning, but rallied in the afternoon as buyers again showed they want in when prices fall below $3.80/mmBtu. Prices have largely stayed between $3.80/mmBtu and $4/mmBtu since mid-July. Record supply has capped them, but fear about a sharp increase in winter demand keeps them supported. After last winter’s extreme cold pushed benchmark price spikes past $6/mmBtu, end-users are willing to pay a premium to lock in prices, Aaron Calder, senior market analyst at energy-consulting firm […]