US Natgas Futures Slide after Hitting 14-year High

U.S. natural gas futures fell about 4% on July 27 from a seven-week high in the prior session on record gas output and forecasts for less demand next week than previously expected.

That price decline came despite a decline in flows from Russia to Europe on the Nord Stream gas pipe, forecasts for hotter weather through mid-August than previously expected, record coal prices and the coming expiration of the front-month contract.

The contract was on track to gain about 61% in July, which is just shy of the record monthly percentage gain of 63% in September 2009.