U.S. natural gas prices swing as major shale producers announce a $58 billion merger

U.S. natural gas futures prices have been volatile, testing the $3 level and ending a three-day winning streak. This comes as the country is producing a lot of gas, but some factories still report difficulty getting enough supply.

Meanwhile, two major shale producers, Devon and Coterra, agreed to merge in a deal valued at $58 billion. The combined company expects its natural gas output to more than double by 2026.