U.S. Natural Gas Insulated as Global Markets Roiled by Conflict

By
Christopher Lenton

on

Published in:Daily Gas Price IndexFiled under:

Winter Storm Fern battered the U.S. gas market in late January, with 79 all-time spot price records set at NGI indexes, but so far the war in the Middle East has barely excited market bulls.

Line chart titled “NGI’s Henry Hub Daily Spot Price vs Prompt JPN/KOR & TTF Futures Contract Settlement Prices” showing Henry Hub U.S. natural gas prices near $3/MMBtu from Feb. 27 to March 3, 2026, while global LNG benchmarks rise sharply, with Japan-Korea Marker (JKM) increasing from about $10.5 to nearly $16/MMBtu and Europe’s TTF climbing from roughly $11 to above $18/MMBtu, highlighting the widening price spread between U.S. natural gas and international LNG markets.

At A Glance:

  • U.S. LNG plants run near capacity
  • Henry Hub hovers around $3/MMBtu
  • Global benchmarks surge amid supply disruptions

 

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