US natgas prices down 3% to one-week low on rising output, mild weather

U.S. natural gas futures fell about 3% to a fresh one-week low on Monday on record output, a drop in gas prices in Europe and forecasts for mild U.S. weather through late October that will keep both heating and cooling demand low. Front-month gas futures for November delivery on the New York Mercantile Exchange fell 8.9 cents, or 2.8%, to $3.147 per million British thermal units (mmBtu) by 8:59 a.m. EDT (1259 GMT), putting the contract on track for its lowest close since Oct. 4.