US natural gas futures climbed to $2.86 per MMBtu, rebounding from a more than six‑month low and mirroring broader strength across energy markets as expectations for a quick resolution to the Middle East conflict diminished. President Donald Trump said the US is “nearing completion” of its strategic objectives in Iran but offered little detail on how hostilities might be brought to an end. He also warned of the possibility of severe military action against Iran within the next two to three weeks.
The rally in gas prices was capped, however, by the onset of the spring shoulder season, when heating demand typically eases and storage injections accelerate. Weather forecasts call for above‑normal temperatures across the eastern US into early April and again around mid‑April, curbing gas consumption. As a result, markets now anticipate a quicker build in inventories, with stocks expected to expand from a modest surplus in mid‑March to a more substantial surplus by mid‑April.
