Why Natural Gas Stocks Were On Fire This Week
Shares of several natural gas stocks rallied more than 10% this week. Leading the charge were Tellurian (NASDAQ: TELL), Range Resources (NYSE: RRC), and Comstock Resources (NYSE: CRK), which jumped between 10% and 16% since last Friday. Surging natural gas prices fueled a rally in the sector.
The price of natural gas hit a seven-year high earlier this week, with U.S. gas futures closing at $5.46 per MMBtu on Wednesday. Meanwhile, natural gas prices in Europe and Asia traded near $23 and $19 per MMBtu, respectively.
Image source: Getty Images.
Source Fool.com
