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Market MovementMild weather undermines natural gas pricesMild weather and high storage volumes pushed down US natural gas futures prices to levels not seen since March on the New York Mercantile Exchange early last week. Click here to enlarge imageThe August natural gas contract plunged 20.3¢ to $2.64/Mcf on July 8, while the September contract dropped 19¢ to $2.93/Mcf in a sell-off apparently triggered when increased gas demand and higher power prices, anticipated by traders as a result of warmer weather in the Northeast, failed to materialize. The August position rebounded slightly July 9, up 5.2¢ to $2.99/Mcf as part of a general market movement. But only a 20¢ tur...

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