Nov. 6 (Bloomberg) -- Natural gas futures will probably fall as mild weather covers the Midwest and Northeast next week, the two largest heating areas in the U.S., a Bloomberg News survey showed.

Seven of 17 analysts, or 41 percent, said New York futures will decline through Nov. 13. Five, or 29 percent, said gas will advance. Five others said there would be little change in prices. Last week, 56 percent of participants said would drop.

Above-normal to normal temperatures are probable Nov. 11 to Nov. 15 for most of the U.S., according to the Climate Prediction Center in Camp Springs, Maryland. About 52 percent of U.S. households rely on gas for heating.

“It seems we’re going to be getting our typical fall weather,” said Ryan Moe, risk management consultant for FC Stone LLC in Minneapolis. “Looking at the demand picture I don’t see anything that is going to encourage a rally in the next two weeks.”

U.S. inventories of gas rose to 3.788 trillion cubic feet last week, a sixth consecutive record, the Energy Department said yesterday.

Stockpiles typically build from April to early November before the arrival of cold weather spurs demand. The previous record to start the winter period was 3.545 trillion cubic feet reached on Nov. 2, 2007.

Gas futures for December delivery this week fell 45 cents, or 8.9 percent, to $4.595 per million British thermal units on the New York Mercantile Exchange.

The gas survey has correctly forecast the direction of prices 48 percent of the time since its June 2004 introduction.

     Bloomberg’s survey of natural-gas analysts and traders asks
for an assessment of whether Nymex natural-gas futures will
probably rise, fall or remain neutral in the coming week. This
week’s results were:

                   RISE   FALL   NEUTRAL
                     5      7      5

To contact the reporter on this story: Reg Curren in Calgary at rcurren@bloomberg.net

Last Updated: November 6, 2009 15:44 EST