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Reuters reported that U.S. natural gas futures rose 3.2 cents as reports confirmed that Chesapeake Energy (NYSE:CHK) had decreased its output due to low gas prices.
Reuters reported that U.S. natural gas futures rose 3.2 cents as reports confirmed that Chesapeake Energy (NYSE:CHK) had decreased its output due to low gas prices.
As quoted in the market news:
At 12:40 p.m. EST (1740 GMT), the NYMEX front-month gas futures contract was up 3.2 cents, or 1.3 percent, at $2.48 per million British thermal units after sinking to an intraday low of $2.405 after the EIA report, then spiking to a high of $2.585 after the Chesapeake news.