Natural Gas Prices in the US Extend Gains

2026-03-02 12:48 By Joana Taborda 1 min. read

US natural gas futures extended their gains on Monday, rising nearly 6% to surpass $3 per MMBtu, as escalating tensions in the Middle East stoked concerns over supply disruptions.

The rally followed a series of attacks by the US and Israel on Iran, which prompted retaliatory strikes by Tehran against regional targets.

QatarEnergy halted LNG production at its Ras Laffan complex following military attacks.

It adds to early concerns over tanker traffic through the Strait of Hormuz, which has largely stalled, with no clear timeline for a safe return to normal operations.

Although Tehran insists the waterway remains open, several shipping companies have begun rerouting vessels away from the narrow passage as a precaution.

The Strait of Hormuz handles roughly 20% of global LNG trade, including significant exports from Qatar.

Any disruption could increase demand for US LNG, particularly as the natural gas market is currently running a 0.3% deficit relative to the 5-year average.



News Stream
Natural Gas Prices in the US Extend Gains
US natural gas futures extended their gains on Monday, rising nearly 6% to surpass $3 per MMBtu, as escalating tensions in the Middle East stoked concerns over supply disruptions. The rally followed a series of attacks by the US and Israel on Iran, which prompted retaliatory strikes by Tehran against regional targets. QatarEnergy halted LNG production at its Ras Laffan complex following military attacks. It adds to early concerns over tanker traffic through the Strait of Hormuz, which has largely stalled, with no clear timeline for a safe return to normal operations. Although Tehran insists the waterway remains open, several shipping companies have begun rerouting vessels away from the narrow passage as a precaution. The Strait of Hormuz handles roughly 20% of global LNG trade, including significant exports from Qatar. Any disruption could increase demand for US LNG, particularly as the natural gas market is currently running a 0.3% deficit relative to the 5-year average.
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Natural Gas Prices in the US Rise More than 4%
US natural gas futures climbed more than 4% on Monday, approaching $3 per MMBtu, as prices rebounded sharply from the September lows reached last week. The rally tracked broader gains across energy markets after the US and Israel carried out a series of attacks on Iran, prompting retaliatory strikes by Tehran against targets in the region. Tanker traffic through the Strait of Hormuz, a critical maritime chokepoint, largely stalled amid the escalating conflict, with no clear timeline for a return to normal and safe operations. Although Tehran maintains that the waterway remains open, several shipping companies have begun rerouting vessels away from the narrow passage as a precaution. The strait handles roughly 20% of global LNG trade, including significant exports from Qatar. Disruptions in the Strait of Hormuz could boost demand for US LNG, particularly as the domestic natural gas market is currently running at a 0.3% deficit compared with the five-year seasonal average.
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Natural gas prices rose to 2.91 USD/MMBtu on March 1, 2026, up 1.73% from the previous day as the war in the Middle East threatens global LNG supplies. Markets are closely monitoring the risk of disruptions in the Strait of Hormuz, a vital chokepoint that handles 20% of global LNG trade, including exports from Qatar. Tehran insists the strait remains open, yet shipping companies quickly began rerouting vessels away from the narrow waterway.
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