Updated weather forecasts released Sunday triggered an even steeper decline on Monday. WSI’s six- to 10-day and eight- to 14-day outlooks call for above-average temperatures throughout the US, with particularly warm weather expected in the key consumption areas of the Upper Midwest and Northeast. “Today’s fall is purely a weather play. Mother Nature is not cooperating and the November contract is getting hammered,” said Stephen Schork, principal at The Schork Report. Schork said the US industrial complex is in recession and overall US growth has traders skeptical about future gas demand. “With all of the gas in the ground and lackluster economic growth, we are going to need a very cold winter to push prices up,” Schork said. Also putting pressure on futures prices are expectations that US power burn will fall. After averaging 26.5 Bcf/d in October, Platts unit Bentek Energy predicts power burn will fall to 23.6 […]