Natural-gas prices surge 10%, bouncing after Chesapeake cuts production outlook

Natural-gas futures jumped sharply Wednesday morning, bouncing after ending the previous session at the lowest in more than three and a half years after Chesapeake Energy, a major shale producer, cut its production outlook. Meanwhile, oil futures ticked slightly higher in rangebound trading 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, +0.78% CL.1, +0.78% CLJ24, +0.78%rose