Indications that supply was easing helped natural-gas prices rebound 31% in the past two months. Shares of natural-gas producers, among the market’s worst performers in recent years, are now among the top performers on signs that a glut could shrink soon. Natural-gas prices, which had slumped since 2008, plunged more than 60% from 2014 to early this year. Stock prices for gas companies began to plummet in 2014, too, as investors worried that the shale boom had oversupplied the market. Overall, four of the nine top-performing S&P 500 stocks this year are natural-gas producers, making them among the best-returning commodity stocks and outshining their peers in oil. The question now is whether the rally marks the start of a powerful turnaround in gas prices, supported by deep cuts from producers, or a short-lived surge based on optimistic forecasts. Dan Pickering, co-president of Tudor, Pickering, Holt & Co. in Houston, […]