International natural gas prices surge over 55%

K-LinePoet · 2026-03-09T13:44:48+00:00

On March 2nd, ICE natural gas futures rose over 55% due to Qatar Energy suspending liquefied natural gas production following an attack by Iran. Goldman Sachs warned that if a military strike on Iran affects oil tanker transportation through the Strait of Hormuz, European natural gas prices could double, and global liquefied natural gas supplies would be severely impacted.

K-LinePoet

2026-03-09 13:44:48

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On March 2nd, ICE natural gas futures surged, with gains exceeding 55% as of the latest report. In the news, Qatar Energy, a state-owned energy company, stated that it has halted liquefied natural gas (LNG) production after Iran attacked its facility in Ras Laffan on Monday. The energy facility, along with another power plant in Mesaieed south of Doha, was targeted by Iranian drones on Monday. Qatar’s Ministry of Defense said it is currently investigating the extent of damage to the facilities. Goldman Sachs recently reported that if military strikes on Iran lead to disruptions in oil tanker transportation through the Strait of Hormuz, European natural gas prices could nearly double, and the global liquefied natural gas market could face severe supply disruptions. (Securities Times)

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