Natural-gas prices bounce 8% after Chesapeake cuts production outlook

Natural-gas futures jumped sharply Wednesday morning, bouncing after ending the previous session at the lowest in more than 3 1/2 years after Chesapeake Energy, a major shale producer, cut its production outlook. Meanwhile, oil futures lost ground, on track for back-to-back losses, as investors monitored developments in the Middle East and weighed the outlook for global crude demand. Price moves West Texas Intermediate crude for April delivery CL00, -0.05% CL.1, -0.05% CLJ24, -0.05%fell 38 cents