NYMEX natural gas November futures settled at $3.116/mmBtu, down 3.7%. The decline reflects the market looking beyond a near-term Northeast cold spell. Gelber & Associates said heating demand likely retreats after the weekend but supply restrictions could persist. Traders also reassessed the 67 Bcf storage injection; the smaller build initially spurred buying, but inventories remain above the five-year average and El Niño expectations moderate the winter demand outlook.
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