Natural gas prices fell Friday in a session that capped a five-day losing streak, as the market absorbed data that suggest a larger glut than expected. Prices for the front-month July contract lost 6.4 cents, or 2.4%, to $2.642 a million British thermal units on the New York Mercantile Exchange. The market is down 12% in a larger collapse since it closed at a four-month high on May 15. The decline was a sharp reversal for what had been a bull market after a three-week run earlier this month. Buyers don’t appear to be stepping in strongly even after big losing sessions, which analysts said is a sign the momentum is firmly pointed to trade lower. The rally “has run its course,” said John Saucer, vice president of research and analysis at Mobius Risk Group in Houston. “We’ve been on the defensive ever since.” Production is […]