Natural Gas Prices in the US Rise

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

US natural gas futures rose past $3 per MMBtu on Monday before paring some gains to settle at $2.9 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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