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Global Gas Prices Surge Amid Middle East Conflict

3/13/2026

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Summary

Story summary

European and Asian natural gas prices rose to three-year highs after 20% of global LNG flows shut amid the Middle East conflict.
U.S. natural gas prices remained stable, trading between $3.10 and $3.40 per MMBtu.
U.S. LNG export facilities operated at full capacity while domestic production increased.
As of late February, U.S. gas prices were down about 50% from January highs, with forecasts of continued stability.

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Story summary

European and Asian natural gas prices rose to three-year highs after 20% of global LNG flows shut amid the Middle East conflict.
U.S. natural gas prices remained stable, trading between $3.10 and $3.40 per MMBtu.
U.S. LNG export facilities operated at full capacity while domestic production increased.
As of late February, U.S. gas prices were down about 50% from January highs, with forecasts of continued stability.