I highlighted the differentials between U.S. and European natural gas prices in an April 24, 2026, Barchart article, where I concluded with the following:
As European and Asian LNG demand rises due to the ongoing war in Ukraine and hostilities in the Middle East, demand for U.S. LNG could rise, keeping prices elevated and above critical technical support levels. The differential between U.S. and European/Asian natural gas prices could prove bullish for NYMEX U.S. natural gas futures over the coming months if hostilities continue or escalate.