$ProShares Ultra Bloomberg Natural Gas (BOIL.US)$ March 4,[S...

$ProShares Ultra Bloomberg Natural Gas(BOIL.US)$ March 4,USAnatural gasPrices have risen due toUSAutmostnatural gasProducer EQT Group (EQT) said it would cut production due to a general drop in prices due to oversupply.USABenchmark Henley Hubnatural gasfuturesrose 6.7% to 1.96USD/million British thermal heat. Since the beginning of this year, one-month forward contracts have declined by more than 20%, and are still far below the seasonal average. EQT said that in response to low prices, the company will cut net production by about 30 billion to 40 billion cubic feet by March. According to agency estimates, cutting production by 40 billion cubic feet will account for about 7% of the company's quarterly production. In recent months,USAnatural gasfuturesPrices have dropped drastically, and companies have had to make adjustments. Last month, both Chesapeake Energy and Comstock Resources announced production cuts based on market conditions.