02.03.202608:13:22UTC+00Natural Gas Prices in the US Rise More than 4%

US natural gas futures rose more than 4% on Monday, nearing $3 per MMBtu, as prices rebounded sharply from last week’s September lows. The advance followed broader strength across energy markets after the US and Israel launched a series of strikes on Iran, triggering retaliatory attacks by Tehran on targets across the region.

Tanker movements through the Strait of Hormuz—a critical maritime chokepoint—have largely stalled amid the escalating conflict, with no clear timeline for the resumption of normal, secure operations. While Tehran insists 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 major exports from Qatar. Any sustained disruption there could bolster demand for US LNG, particularly given that the domestic natural gas market is currently running at a 0.3% deficit relative to the five-year seasonal average.