05.03.202615:38:30UTC+00US Natgas Prices Rebound on Thursday

US natural gas futures climbed toward $3 per MMBtu on Thursday, rebounding from a sharp decline in the previous session, as traders closely monitored escalating tensions in the US–Israel conflict with Iran. Prices had dropped 4.5% on Wednesday after reports suggested Iran was open to talks on ending the hostilities, a claim Tehran later denied.

The conflict has now stretched into a sixth day with no indication of de-escalation, following the US sinking of an Iranian warship in international waters off Sri Lanka’s coast. At the same time, the world’s largest LNG facility in Qatar remains offline and the Strait of Hormuz is closed, amplifying fears of a significant supply disruption.

President Trump said the US would guarantee safe passage for commercial vessels and provide naval escorts if needed, though specific details of the plan have not been disclosed. Separately, the latest EIA data showed that US energy companies withdrew a higher-than-normal 132 billion cubic feet of natural gas from storage last week.