Natural gas prices dropped to the lowest level since 1999 as concerns about weak demand continued to weigh on the market. Futures for January delivery settled down 7.2 cents, or 3.8%, to $1.822 a million British thermal units, the lowest settlement since March 24, 1999. On an inflation-adjusted basis, Tuesday’s settlement price is the second-lowest on record. The inflation-adjusted record low is $1.80/mmBtu, reached in January 1992. Warm weather in the U.S. caused by the El Niño weather phenomenon has sharply limited demand for the heating fuel this year. The natural-gas market is oversupplied, and some traders and analysts say the industry could run out of storage space for gas by mid-2016. “There’s a lot of negative sentiment out there right now,” said Jim Calhoun, trader at Twin Eagle Resource Management in Houston. “The longer this warm winter goes on, the more bullets we have to shoot at […]