Natural gas hit a new three-year high on Friday, surging to $4.34 per million British thermal units, up 3.7% on the day after rising 7.4% on Thursday. It was the highest price for the commodity since December 2018, when it traded above $4.40.
And on Friday natural gas stocks started to respond, rising sharply higher. EQT (EQT) was up 7.3%, Southwestern Energy (SWN) gained 8.3%, Chesapeake Energy (CHK) rose 4.4%, and Cabot OIl & Gas (COG) climbed 5.7%. Chesapeake also got a new Buy recommendation from BMO analyst Philip Jungwirth,…
