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Barchart
Rich Asplund

Nat-Gas Prices Supported by a Surge in European Gas Prices

United States Europe Nymex BNEF Natural Gas EIA Iran the Strait of Hormuz

August Nymex natural gas (NGQ26) on Friday closed up +0.053 (+1.85%).

Nat-gas prices settled higher on Friday, garnering carry-over support from a sharp rally in European nat-gas prices to a 3.75-month high. Prices rallied on concern that escalation of the US-Iran conflict will keep the Strait of Hormuz closed, curb nat-gas supplies to Europe, and potentially prompt European LNG customers to boost purchases of US nat-gas to make up for lost Middle Eastern supplies.

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