Natural Gas Market Suffers Due to Excess Supply, Weak Demand
CHKChesapeake Energy(CHK) Zacks Investment Research·2024-02-26 23:16

The U.S. Energy Department's weekly inventory release showed a lower-than-expected decrease in natural gas supplies. The bearish inventory numbers, together with predictions of weaker weather-related demand in late February, weighed on natural gas futures, which settled with a slight loss week over week, despite a significant bump, following Chesapeake Energy’s (CHK) planned production cut for 2024. In fact, the market hasn't been kind to natural gas, with the commodity recently hitting fresh three-and-a-ha ...