13.03.202616:02:53UTC+00US Natgas Drop From Recent Highs

US natural gas futures slipped below $3.15 per MMBtu in mid‑March, as forecasts for milder spring weather and record domestic output outweighed ongoing supply risks stemming from conflict in the Middle East. Prices declined nearly 3% after a smaller‑than‑expected storage draw of 38 billion cubic feet signaled waning heating demand at the close of the winter season.

Although the war with Iran continues to disrupt traffic through the Strait of Hormuz and curb Qatari exports, the impact on US prices has been tempered by robust domestic production, which has reached 118.5 billion cubic feet per day. A sudden shift in market sentiment following political statements hinting at a potential end to hostilities also drove global energy prices lower, easing upward pressure on US fuel costs.

At the same time, the US dollar strengthened on safe‑haven inflows amid the geopolitical tensions, making dollar‑denominated commodities less attractive to international buyers and adding further headwinds for natural gas prices.