Natural gas prices have given back gains from early this week in a strong response to warmer weather forecasts. Natural gas for January delivery fell 17.7 cents, or 4.1%, to $4.178 a million British thermal units on the New York Mercantile Exchange. The losses reflect nearly two days of trading as Nymex prices didn’t have a settlement over the Thanksgiving holiday on Thursday. They also settle an hour early Friday, at 1:30 p.m. Globex online trading will also close early at 1:45 p.m. Weather forecasts have pulled back from predictions for a fiercely cold start to December. Temperatures aren’t severely warmer than normal, but enough to get traders refocused on the record supply coming from the U.S. drilling boom, said Tim Evans, analyst at Citi Futures Perspective in New York. Traders had bid prices above $4.50/mmBtu earlier this month when an early burst of Arctic […]