Chesapeake Energy Corp., ConocoPhillips and Encana Corp. have each said that they would take some natural gas operations offline this year.
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Natural gas rose 6 cents to finish at $2.186 per 1,000 cubic feet in Friday trading. That’s up nearly 15 percent from April 19.
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Benchmark West Texas Intermediate crude gave up 77 cents to end at $103.11 per barrel in New York.
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Natural gas prices have been falling since last June.
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West Texas Intermediate, the U.S. benchmark crude, gave up 85 cents to end at $102.46 per barrel.
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The decline coincided with a sell-off in U.S. stock markets.
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Benchmark U.S. crude fell $1.22 to end the day at $104.01 per barrel in New York.
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Benchmark U.S. crude increased Monday by $2.21 to $105.23 per barrel in New York.
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Analysts think pump prices will top $4 a gallon nationally within the next couple of weeks, perhaps sooner. Then they could start to fall.
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Natural gas prices tumbled Thursday after a surprising jump in U.S. supplies.
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The Senate on Thursday failed to advance a measure that would repeal tax incentives for the nation’s biggest companies and use the money to pay for extending clean-energy tax credits.
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President Obama made a firm call Thursday for the Senate to approve a measure repealing some of the oil and gas industry’s tax incentives, just ahead of a high-profile vote in the upper chamber.
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