Natural Gas Tumbles on Storage Data, Weather

10/04/2010 00:00 AST

Natural-gas futures fell for the third consecutive day after government data showed an unusually large increase in U.S. gas inventories and forecasts for mild weather damped the outlook for demand.

Natural gas for May delivery on the New York Mercantile Exchange fell 11 cents, or 2.74%, to settle at $3.909 a million British thermal units, after reaching a low of $3.857/MMBtu earlier in the day. Natural-gas futures are down 8.6% during the three-session losing streak and have lost about a third of their value since the beginning of the year.

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