Natural gas sank Wednesday after weather models showed a growing consensus in favor of unseasonably cool weather on the way, a likely precursor to soft demand. Prices for the front-month August contract settled down 4.9 cents, or 1.7%, to $2.783 a million British thermal units on the New York Mercantile Exchange. Prices are still locked in the 17-cent range in which they have settled for the past three weeks. Prices had surged Tuesday afternoon, reversing losses, after the most widely watched U.S. government forecast showed a trough of cool air hitting farther east than originally expected, creating hotter forecasts. But that model’s Wednesday morning update brought it more in line with other models that suggest cooler weather. “Whoever bought it yesterday, bought it right at the high point,” said Santiago Diaz, a broker at INTL FCStone Latin America in Miami. Without hot weather to drive demand […]