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Natural gas prices cool on warmer weather outlook

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Natural gas futures fell with a thud after the latest forecasts show warmer temperatures than expected in November.

"They were forecasting some heavy-duty cold for November, and now they've dialed back," said John Kilduff of Again Capital. "Right now, with supplies being where they are, we're highly reactive to that."

November natural gas futures closed down 3.7 percent at $3.569 per million British thermal units in afternoon trading.

Natural gas in storage is at a near record high, at 3.74 trillion cubic feet, but 2.4 percent below last year's record high, said Kilduff.

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