Natural gas prices were on the rise on Monday on the back of expectations that less drilling would lead to a decline in production, the Wall Street Journal reported.
As quoted in the publication:
Natural gas futures for April delivery recently rose 5.8 cents, or 3.5%, to $1.724 a million British thermal units on the New York Mercantile Exchange.
Prices plunged to 17-year lows last week as the surplus of natural gas grew due to robust production and sluggish demand. Temperatures have been warmer-than-normal across much of the U.S., limiting the use of natural gas as an indoor-heating fuel.
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