# US natgas prices soar 13% from 3-1/2-year low as Chesapeake cuts output

> Natural gas futures jumped about 13% on Wednesday after Chesapeake Energy said it would cut its planned 2024 gas output by roughly 30%. The move followed a plunge in prices that had driven gas to a multi-year low.

- Date: 2024-02-21 · published 2024-02-21T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/31841-us-natgas-prices-soar-13-from-3-1-2-year-low-as-chesapeake-cuts-output
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

A large producer curtailing supply tightens the US gas balance and supports Henry Hub prices, which feed into energy and fertilizer costs for feed producers.

## Read by commodity

- NATGAS: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/business/energy/us-natgas-prices-soar-10-3-12-year-low-chesapeake-cuts-output-2024-02-21/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.