{"id":2575813,"date":"2026-03-03T21:20:02","date_gmt":"2026-03-04T02:20:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/natural-gas-prices-surge-worldwide-as-iran-conflict-crimps-supply\/"},"modified":"2026-03-03T21:24:50","modified_gmt":"2026-03-04T02:24:50","slug":"natural-gas-prices-surge-worldwide-as-iran-conflict-crimps-supply","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/natural-gas-prices-surge-worldwide-as-iran-conflict-crimps-supply\/","title":{"rendered":"Natural gas prices surge worldwide as Iran conflict crimps supply"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnatural-gas-prices-surge-worldwide-as-iran-conflict-crimps-supply%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2575813&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Rising tensions linked to the iran conflict have roiled global energy markets, driving a sharp surge in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/texans-hit-with-thousands-of-dollars-in-energy-costs-wont-get-bills-reduced\/\" title=\"Texans Hit With Thousands Of Dollars In Energy Costs Won\u2019t Get Bills Reduced\">natural gas prices<\/a> and threatening a broader energy crisis. Attacks by Iran and counterstrikes by the United States and Israel have disrupted liquefied natural gas (LNG) markets, with Europe, heavily dependent on imports, facing especially steep prices. QatarEnergy paused all LNG production after Iranian attacks on its facilities, highlighting how a major LNG supplier\u2019s disruption can reverberate worldwide. The Islamic Revolutionary Guard Corps has effectively closed the Strait of Hormuz to maritime traffic, a chokepoint through which roughly 20% of global LNG passes, amplifying supply concerns.<\/p>\n<p>Analysts warn that a month-long disruption could push European gas prices up as much as 130% and lift LNG prices in Asia, with benchmarks in Europe and the Japan\/Korea Marker reaching multi-year highs. Europe\u2019s storage levels are already stretched heading into warmer months, while Asia&#8217;s capacity to absorb shortfalls remains limited, making the region vulnerable to persistent supply shocks. China and India, large LNG buyers, could bear the <a href=\"https:\/\/amzn.to\/3YuVZYV\" >long-term costs depending<\/a> on policy moves, tariffs, and how quickly alternative supplies can be secured. Meanwhile, the United States is expected to export more LNG to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/saudi-arabia-rebuffs-bidens-pleas-to-greatly-increase-oil-production\/\" title=\"Saudi Arabia Rebuffs Biden&#039;s Pleas to Greatly Increase ... Production\">meet global demand<\/a>, and policy responses\u2014such as President Trump offering assistance to oil shippers to navigate Hormuz disruptions\u2014underscore the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/johnson-invites-mtg-to-sit-in-on-committees-addressing-obamacare-tax-credits\/\" title=\"Johnson invites MTG to sit in on committees addressing Obamacare tax credits\">broader political stakes<\/a> of the energy squeeze.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Natural gas prices surge worldwide as Iran conflict crimps supply<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2522003\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The conflict in <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/iran\/\">Iran<\/a> has sent natural gas prices soaring in Europe, thanks to a major gas exporter pausing production and key shipping routes closing, threatening a broader global <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/section\/policy\/energy-and-environment\/\">energy<\/a> crisis.&nbsp;<\/p>\n<p>The strikes on Iran by the United States and Israel, as well as Iran&rsquo;s counterattacks, have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/interstate-10-fire-causes-massive-transportation-crisis-in-los-angeles\/\" title=\"Interstate 10 Fire Causes Massive Transportation \u2018Crisis\u2019 in Los Angeles\">caused major disruptions<\/a> across liquefied natural gas markets, causing prices to jump in regions, particularly Europe, that rely on imports.&nbsp;<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/4479480\/dallas-police-arrest-man-ken-paxton-election-party\/\">Dallas police arrest man outside Ken Paxton election night watch party<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/4479311\/roy-cooper-michael-whatley-north-carolina-senate-race\/\">North Carolina primary sets up Roy Cooper vs. Michael Whatley in pivotal Senate race<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/congressional\/4479352\/texas-democrats-dallas-county-precinct-voting\/\">Texas Democrats say Dallas County voters being &#8216;turned away&#8217; over precinct voting rule<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>European <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"http:\/\/click1.trk-washingtonexaminer.com\/omrzfpcwjjqdmqfjdkcwkdcngwdpkrvrgswgqckzjkjkzk_rvrrgklcjnr.html?a=Daily+on+Energy+030326&amp;b=03%2F03%2F2026&amp;c=WEX_Daily+on+Energy&amp;d=25491032&amp;e=30ccf73a7748bf0e79b39541d0204b99fa5a8d957df77de2f48f48ed4b4c0cba\">natural gas futures<\/a> settled up another 20% at about &euro;53.60 per megawatt, or around $63, Tuesday after soaring over 50% the day before. The Northeast Asia LNG benchmark, the Japan\/Korea Marker also reached a one-year high on Monday at 43 euros, or $49.83 per MWh, according to <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.cnbc.com\/2026\/03\/03\/middle-east-war-gas-energy-lng-drone-qatar-strait-hormuz-price-shock.html\">CNBC<\/a>.&nbsp;<\/p>\n<p>The price jump comes after Qatar&rsquo;s state-owned energy giant QatarEnergy suspended all LNG production on Monday after an Iranian drone hit its facilities at Ras Laffan and Mesaieed.&nbsp;<\/p>\n<p>Many countries rely on LNG from Qatar, which <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=57300#:~:text=Qatar%20holds%2011%25%20of%20the,around%20600%2C000%20barrels%20per%20day.\">exported<\/a> more than 70% of its production to Asia and 25% to Europe in 2022.&nbsp;<\/p>\n<p>In addition, the conflict has prompted the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/irgc\/\">Islamic Revolutionary Guard Corps<\/a> to effectively close the Strait of Hormuz to maritime vessels, shutting down a key global route for transporting oil and gas exports. About <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=65584\">20% of global<\/a> LNG supply passed through the strait, primarily from Qatar.&nbsp;<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">About 20 million barrels of crude oil and other oil products pass through the Strait of Hormuz daily, making up 20% of global oil trade.<\/figcaption><\/figure>\n<p>Goldman Sachs <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-01\/goldman-says-european-gas-could-jump-130-on-hormuz-disruption\">analysts<\/a> said that a monthlong pause in LNG transit supply through the strain could send European prices and spot Asia LNG to surge 130% to $25 per million British thermal units.&nbsp;<\/p>\n<p>Ira Joseph, a senior research associate at Columbia Center on Global Energy Policy, told the <em>Washington Examiner<\/em> that Europe and Asia do not have the storage levels to address long-term disruptions.&nbsp;<\/p>\n<p>Joseph said that, although Asia is a major growth market for LNG, it does not have storage capacity outside of China. On the other hand, Europe has a significant amount of storage, but its storage levels are at the lowest in nearly a decade to end the winter, he said.&nbsp;<\/p>\n<p><em>Bloomberg<\/em> <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"http:\/\/click1.trk-washingtonexaminer.com\/rwvrjshgnnlpwljnpkhgkphbfgpsktqtfygflhkrnknkrg_rvrrgklcjnr.html?a=Daily+on+Energy+030326&amp;b=03%2F03%2F2026&amp;c=WEX_Daily+on+Energy&amp;d=25491032&amp;e=30ccf73a7748bf0e79b39541d0204b99fa5a8d957df77de2f48f48ed4b4c0cba\">reported<\/a> earlier this year that Europe has been withdrawing natural gas at the fastest pace in five years.&nbsp;<\/p>\n<p>Fortunately for Europe, the warmer months are arriving, which means countries are drawing far less from storage, Joseph said. However, he added that storage levels, particularly in Germany and the Netherlands, remain critically low.&nbsp;&nbsp;<\/p>\n<p>&ldquo;They&rsquo;re getting a little lucky with the weather,&rdquo; Joseph said. &ldquo;Otherwise, they would probably have to import more LNG at a really significant premium in order to cover demand.&rdquo;&nbsp;<\/p>\n<p>Joseph noted that China is one of the largest buyers of LNG from Qatar.&nbsp;<\/p>\n<p>He said China&rsquo;s actions will be critical, noting that Beijing has imposed significant tariffs on the U.S. LNG and it remains to be seen whether it would lower these tariffs to avoid punishingly high prices.&nbsp;<\/p>\n<p>Dr. Ramanan Krishnamoorti, a professor at the University of Houston, told the <em>Washington Examiner<\/em> that China is well stocked with natural gas and will continue to get natural gas from Russia.&nbsp;<\/p>\n<p>&ldquo;I think if the war is less than 30 to 45 days, China&rsquo;s probably not going to be impacted greatly,&rdquo; Krishnamoorti said. He added that India could be significantly impacted, as it was looking to grow its supply and doesn&rsquo;t have a lot of storage available.&nbsp;<\/p>\n<p>&ldquo;If Qatari gas is disrupted because of damage to their infrastructure, that&rsquo;s going to have long term impacts on both India and China,&rdquo; Krishnamoorti said.<\/p>\n<p>Krishnamoorti noted that LNG is a globally traded commodity, so prices will soar, including in the U.S., if supply is taken offline.<\/p>\n<p>He added that the U.S. LNG will likely be exported, rather than kept for domestic use.<\/p>\n<p><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/4478919\/trump-offers-assistance-oil-shippers-price-spike-iranian-threat\/\"><strong>TRUMP OFFERS ASSISTANCE TO OIL SHIPPERS TO HALT PRICE SPIKE FROM IRANIAN THREAT<\/strong><\/a><\/p>\n<p>President Donald Trump on Tuesday revealed a plan to restart transportation of oil and gas through the strait, offering financial and logistical support to shippers navigating the waters around Iran.&nbsp;<\/p>\n<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Worldwide gas prices rise as Iran conflict cuts supply<\/p>\n","protected":false},"author":3511,"featured_media":2575814,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/03\/AP26031231509809.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[75021,74956,75020,4590,11410],"class_list":["post-2575813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-global-markets-2","tag-iran-conflict-2","tag-natural-gas-2","tag-prices","tag-supply"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/03\/AP26031231509809.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2575813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3511"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2575813"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2575813\/revisions"}],"predecessor-version":[{"id":2575822,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2575813\/revisions\/2575822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2575814"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2575813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2575813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2575813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}