2026.06.0415:06:23UTC+00US Natural Gas Prices Rise to 4-Month High

US natural gas futures climbed above $3.30 per MMBtu, their highest level in four months, driven by continued supply disruptions from the Middle East and stronger domestic demand. Ongoing cross-border strikes between Israel and Lebanon have further strained ceasefire efforts, reducing the chances of a near-term agreement between the US and Iran that could ease the tanker blockade in the Persian Gulf.

Liquefied natural gas exports from the region have fallen sharply since the war began in March, pushing European and Asian buyers to rely more heavily on US supplies. Reflecting this shift, recent EIA data showed US LNG exports reaching a record 573.5 billion cubic feet (gaseous equivalent).

At the same time, forecasts for higher temperatures in the US Northeast have bolstered expectations for gas-intensive air-conditioning demand, providing additional support to prices. In line with stronger consumption, US gas inventories increased by 95 bcf, undershooting market expectations for a larger 101 bcf build.