18.03.202623:33:06UTC+00US Natgas Jumps on Ras Laffan Attack

US natural gas futures rose roughly 5% to around $3.20 per MMBtu, erasing losses from earlier in the week, after Iran launched attacks on key energy infrastructure across the Middle East, heightening supply concerns. Iran fired missiles at Qatar’s Ras Laffan Industrial City — home to the world’s largest LNG export facility — in one of several strikes on energy assets Tehran had vowed to carry out following an Israeli attack on Iran’s South Pars gas field. In Abu Dhabi, operations at the Habshan gas facilities were suspended after intercepted missiles caused falling debris, while LNG infrastructure in Bahrain was reportedly hit by heavy missile barrages.

At the same time, the EIA reported a 38 billion cubic feet withdrawal from natural gas storage in its latest weekly release, below market expectations for a 42 Bcf draw. The smaller-than-anticipated decline suggests that heating demand is beginning to ease as the winter season winds down.