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Southwest Energy Up As Natural Gas Futures Rise On Cold Weather Predictions

Southwest Energy Up As Natural Gas Futures Rise On Cold Weather Predictions

Southwestern Energy Company (NYSE: SWN) stock is up over 8 percent on Thursday, as natural gas and oil prices rallied on the possibilities of colder weather arriving.

The stock rose sharply to $6.83 in Thursday's trading session, up 8.41 percent.

Oil prices have fallen more than 3 percent since government data indicated that United States crude stockpiles unexpectedly rose in the last week. U.S. commercial crude inventories jumped by 2.6 million barrels in the week through December 25, according to the Energy Information Administration.

Natural Gas Has Been Down Recently

For the week ending December 18, natural gas prices were at a 16-year low. Futures prices had also settled at their lowest level since March 1999, with a near-month contract settling at $1.790/MMBtu December 16.

Related Link: Wheat Futures Higher On Weather Concerns

According to data from Baker Hughes Incorporated, the total oil and natural gas rig count fell by 28 units this week, with 709 units in service for the week ending December 11. This was the lowest combined oil and natural rig count since September 1999.

Southwestern Energy shares were lower at -6.95 percent following buying and selling at $6.29 with volume of 15.54 million shares. The company has a 52-week range of $5.00 to $29.61.

The issue traded down on Wednesday, but has since rebounded on Thursday. The company has traded 395,019 shares to date.

Southwestern Energy Company develops, explores and produces natural gas and oil in the United States. The company operates in two segments: midstream services/exploration and development/production.

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