• Natural gas futures up sharply through midday trading, with March Nymex contract 19.7 cents higher at $1.773/MMBtu as of 2:21 p.m. ET 
  • Rally sparked by Chesapeake Energy Corp. announcing 2024 production cuts; company guiding for 2.65-2.75 Bcf/d in 2024, reflecting 22% year/year decline
  • Per Gelber & Associates analysts, “The move is likely exacerbated by short-covering, as the sustained downtrend had previously made shorting an attractive bet for speculators and managed money”
  • Southwestern Energy Co. to release 4Q2024 results on Thursday
  • Seasonally light storage withdrawal on tap for this week’s U.S. Energy Information Administration storage report; Reuters survey shows minus-64 Bcf median, versus 168 Bcf five-year average pull
  • Production down around 1 Bcf/d to 103.2 Bcf/d in latest...