US Natural Gas Prices Surge as EQT Announces Production Curtailment
Monday, 4 March 2024, 11:40
US Natural Gas Prices Surge:
US natural gas prices have soared today, with a nearly 6% increase after EQT's announcement of a 1 Bcf production cutback. Henry Hub prices have reached $1.942, marking the highest value in almost a month.
EQT's Response to Market Conditions:
- EQT's decision is a direct response to the current low price environment and high storage levels caused by warm winter weather.
- Chesapeake Energy's recent actions have also influenced the natural gas market, leading to a shift in production strategies.
EQT plans to maintain the production curtailment throughout March and will review market conditions thereafter due to the excess natural gas storage levels resulting from a mild winter.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.