The price of natural gas jumped by nearly 5 percent Monday after government data showed that producers are making good on promises to cut supplies. On Monday natural gas futures rose 9.9 cents to end the day at $2.285 per 1,000 cubic feet, the highest since March 21.
The Energy department’s Energy Information Administration reported that the industry’s effort to downshift production appears to be making a difference. Overall production in the U.S. came to 82.36 billion cubic feet per day in February, down 0.8 percent from January. Natural gas production was still 9.3 percent higher than a year ago, but analysts said any production drop was a promising sign.