Natural Gas Drops a Second Day on Milder U.S. Weather Forecasts

Very light volume in electronic trading. The range has been 4.301-4.203.
From Bloomberg:

Natural gas dropped for a second day in New York on speculation that unusually mild weather in the U.S. will reduce demand for heating fuel.

Futures for February delivery fell as much as 2.8 percent to $4.203 per million British thermal units in electronic trading on the New York Mercantile Exchange and were at $4.275 at 9:48 a.m. London time. The contract declined 1.3 percent to settle at $4.326 on Jan. 17.

Milder weather next week is expected to replace current colder-than-normal temperatures. The low temperature in New York City on Jan. 30 may be 35 degrees Fahrenheit (2 Celsius), 8 degrees above normal, according to a forecast from AccuWeather Inc., based in State College, Pennsylvania....MORE 

Recently:
Jan. 16
Natural Gas: Record Withdrawal But There's a Lot Coming Out of the Ground (short trade redux)

As the Enron guys used to stress, it's not the size of the withdrawal (injection) it's how the other guy reacts to what the third guy was expecting. Sort of a second derivative thing along the lines of Keynes' 'Beauty Contests' in equities.
The futures are still trading up, $4.4450 although off the day's high, $4.4950. We'll try the short again, once more unto the breach and all that....

Jan. 17
"Nat Gas hit with selling"
$4.3240 last.