UNG - Natural Gas Price Rallies After Chesapeake Energy Lowers Output | Benzinga
The price of U.S. natural gas rose more than 11% on Wednesday, taking its gains this week to nearly 13% after producer Chesapeake Energy Corp (NASDAQ:CHK) said it was lowering its output.
Natural gas futures have fallen 48% from their most recent peak in early January, hitting a three-and-a-half year low of $1.576 on Tuesday, before embarking on a 13% rally.
Chesapeake Energy said on Tuesday that it would lower its gas production in 2024 as gas prices slumped.
It said it ...