US Natural Gas Futures Waver on Plunging Oil Price, Lower Output

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:US natural gas futures fluctuated between slight gains and losses, paring an earlier rise as Iran’s foreign minister said the Strait of Hormuz was “completely open.” The news sent oil prices plunging, triggering immediate financial outflows from baskets of energy products that include the US gas contract. The tandem price move happened despite near-term supply and demand for US gas remaining fundamentally unaffected by such geopolitical developments.Traders are also weighing a seasonal drop in production, especially in the Appalachian region, alongside mild weather and a government report Thursday that showed another larger-than-normal increase in domestic stockpiles.