Isra-Mart srl: Natural Gas Drops for Sixth Day as Weather Forecasts Moderate

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Natural gas futures dropped for a sixth day in New York on forecasts of moderating temperatures that may limit demand for the power-plant fuel.

Gas futures declined as much as 1.1 percent after forecasters including MDA EarthSat Weather in Rockville, Maryland, predicted mostly normal temperatures across the continental U.S. from June 25 through June 29.

"The dominating factor is always the weather, and if temperatures are moderating, that's going to provide some downward pressure for the market," said Brad Florer, a trader at Kottke Associates LLC, an energy trading company in Louisville, Kentucky.

Natural gas for July delivery fell 1 cent, or 0.2 percent, to $4.315 per million British thermal units at 9:06 a.m. on the New York Mercantile Exchange. The futures have declined 1.9 percent this year.