Natural gas is rising and investors are starting to believe

Natural gas hit a new three-year high on Friday, rising to $4.34 per million UK thermal units, up 3.7% on the day after rising 7.4% on Thursday. It was the highest price for the commodity since December 2018, when it traded above $4.40.

And on Friday, natural gas inventories started to react and soared sharply higher. EQT (EQT) was up 7.3%, Southwestern Energy (SWN) gained 8.3%, Chesapeake Energy (CHK) was up 4.4% and Cabot Oil & Gas (COG) climbed 5.7%. Chesapeake also received new buy advice from MET analyst Philip Jungwirth,…