The NYMEX January natural gas futures contract fell 17.8 cents to settle Friday at $3.464/MMBtu on moderate weather forecasts and gas stocks that are above year-ago levels. “The natural gas market has dropped to new one-year lows in price as the temperature outlook for the week ahead turned warmer, even as some forecasts for the 11-15 day period trended colder,” Citi Futures analyst Tim Evans said. “Weaker cash prices now seen as unlikely to strengthen in time for the January contract expiration December 29 [have] contributed to the break to the downside. The market seems likely to recover once the colder temperatures arrive, but it’s clear the current mild temperatures are having the greater impact on trade.” The National Weather Service 8-14 day forecast calls for higher chances for below-average temperatures across most of the contiguous US north and east of a line stretching […]