US Nat Gas Futures Up 3.2% to $2.78

US Natural Gas Futures Rise as Oil Prices Climb

U.S. natural gas futures for September delivery on the New York Mercantile Exchange increased by 8.6 cents, or 3.2 %, closing at $2.78 per million British thermal units (MMBtu). The contract had fallen to its lowest level since August 7 in the previous session, but recovered as crude oil prices moved higher.

Brent crude oil rose above $91 per barrel, driven by a reduced likelihood of an agreement to end the Iran‑related conflict. Iran announced a more offensive stance, while the United States rejected extending a cease‑fire, heightening concerns over potential energy‑supply disruptions.

Record natural‑gas production levels and expectations of weaker demand were cited as factors that limited the magnitude of the price gain.

According to top Iranian negotiator Mohammad Baqer Qalibaf, quoted in state media, the Strait of Hormuz will remain closed until the United States fulfills the conditions of an interim agreement signed with Iran in June.

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