UPDATE 3-U.S. natgas futures slip 1 pct; first weekly loss in a mth

Fri Sep 6, 2013 3:17pm EDT
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* Warm weather remains on tap for much of the nation

* Tropical activity stirs in Atlantic basin

* Nuclear plant outages still below normal

By Eileen Houlihan

NEW YORK, Sept 6 (Reuters) - U.S. natural gas futures fell just over 1 percent on Friday and ended the week down more than 1 percent, their first weekly loss in a month.

Traders said a bigger-than-expected weekly inventory build reported on Thursday and below-normal nuclear plant outages added weight to the downside, despite a stir in tropical activity this week and continued warm weather forecast for most of the nation this month.

"Natural gas fundamentals have been disappointing this week with an over performance of the weekly inventory injection level as well as a changing weather forecast from both a temperature and tropics perspective," said Energy Management Institute partner, Dominick Chirichella.

Front-month October natural gas futures on the New York Mercantile Exchange slid 4.5 cents, or 1.26 percent, to settle at $3.53 per million British thermal units.

The nearby contract slid just over 5 cents, or 1.4 percent, for the week, after three straight weekly gains.   Continued...