Natural gas prices sank Thursday afternoon as record high stockpiles and the chance they’ll keep growing led traders to shrug off a brief rally from a smaller-than-expected weekly surplus. Natural gas storage levels reached an unprecedented 4 trillion cubic feet last week, the U.S. Energy Information Administration said late Thursday morning. And weather–though it is not as mild as once expected–is warm enough that many analysts are expecting stockpile additions to continue for at least another week, two weeks beyond what is normal, said John Saucer, vice president of research and analysis at Mobius Risk Group in Houston. “The trend is down and people are looking to sell rallies,” said Scott Gettleman, an independent trader in New York. “Mild weather, big inventories, we’re just setting up for lower.” Prices for the front-month December contract settled down 7.1 cents, or 3%, at $2.276 a million British thermal units on the […]