What drives the natural gas price?

Seasonal weather, LNG exports, and energy policy all pull natural gas in different directions. Each row traces a chain of real events that pushed prices higher or lower, month by month.

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MAY 1 – MAY 31, 2026
MAY 20 Closed: −3.53%
🕌 Military Strike 2026-05-18
🕌 Supply Disruption 2026-05-18
Military strikes on energy facilities disrupted shipments, tightening supplies and raising heating oil prices.
🇬🇧 GAS PRICE ▲ 2026-05-20
Supply disruptions in the Middle East reduce global LNG supply, pushing UK natural gas prices higher.
MAY 19 Closed: +2.98%
🇺🇸 Military Strike Postponement 2026-05-19
🇬🇧 GAS PRICE ▼ 2026-05-19
Postponing the strike eased supply disruption fears, lowering natural gas prices.
🇮🇷 Nuclear Program Suspension 2026-05-19
🇬🇧 GAS PRICE ▼ 2026-05-19
Iran's nuclear suspension eased supply disruption fears, lowering UK natural gas prices.
🇺🇸 Gas Production Decline 2026-05-19
🇺🇸 GAS PRICE ▲ 2026-05-19
Declining natural gas production reduces supply, pushing prices higher.
MAY 15 Closed: +2.28%
🌍 Summit Outcome 2026-05-15
🌍 GAS PRICE ▲ 2026-05-15
The summit ended without progress on Iran, raising oil and gas prices.
🇪🇺 Treasury Yield Rise 2026-05-15
Higher gas prices increase inflation expectations, pushing sovereign yields up.
🇺🇸 Military Strike Threat 2026-05-15
🇬🇧 GAS PRICE ▲ 2026-05-15
Threat of military strike on Iran raises fears of Strait of Hormuz disruption, tightening global gas supply.
🇮🇷 Shipping Disruption 2026-05-15
🇬🇧 GAS PRICE ▲ 2026-05-15
Disruptions to shipping through the Strait of Hormuz tightened global gas supply, raising UK prices.
🇺🇸 Production Decline 2026-05-15
🇺🇸 GAS PRICE ▲ 2026-05-15
Lower production reduces supply, pushing natural gas prices higher.
MAY 13 Closed: +0.74%
🇺🇸 Military Strike Rejection 2026-05-13
🌍 Supply Disruption 2026-05-13
Rejection of Iran's response prolongs conflict, disrupting Strait of Hormuz shipping and tightening global gas supply.
🇪🇺 GAS PRICE ▲ 2026-05-13
Supply disruption reduces available gas, pushing prices higher.
MAY 12 Closed: −2.3%
🇺🇸 Lng Export Decline 2026-05-12
🇺🇸 GAS PRICE ▼ 2026-05-12
Lower LNG exports reduced demand for US natural gas, pushing prices down.
🇺🇸 Liquefaction Train Restart 2026-05-12
🇺🇸 GAS PRICE ▲ 2026-05-12
Restarting the liquefaction train increases LNG exports, boosting demand for natural gas and raising prices.

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MAY 11 Closed: +5.55%
🇺🇸 Ceasefire Agreement 2026-05-11
🌍 GAS PRICE ▼ 2026-05-11
The US-Iran ceasefire eased supply fears, causing natural gas prices to decline.
🌍 Thermal Coal Price Decline 2026-05-11
Natural gas price decline reduces coal demand as power plants switch to cheaper gas.
🇮🇷 Geopolitical Tension Rise 2026-05-11
🇬🇧 GAS PRICE ▲ 2026-05-11
Tensions between US and Iran disrupted LNG supply via Strait of Hormuz, tightening global supply and raising UK gas prices.
🇺🇸 Peace Negotiation Failure 2026-05-11
🇪🇺 GAS PRICE ▲ 2026-05-11
Failed peace talks keep Strait of Hormuz closed, reducing LNG supply and raising gas prices.
MAY 8 Closed: −0.43%
🇺🇸 Military Strike 2026-05-08
🇬🇧 GAS PRICE ▲ 2026-05-08
US military strikes on Iran disrupted LNG supply via Strait of Hormuz, tightening global gas markets.
MAY 7 Closed: +1.43%
🇺🇸 Military Strike 2026-05-07
🇪🇺 GAS PRICE ▲ 2026-05-07
US military strikes on Iran raised fears of supply disruption, pushing natural gas prices up.
MAY 6 Closed: −2.08%
🇺🇸 Military Strike Halt 2026-05-06
🇪🇺 GAS PRICE ▼ 2026-05-06
Halt in military strike reduces supply disruption fears, lowering natural gas prices.
🇺🇸 Diplomatic Negotiation Progress 2026-05-06
🇪🇺 GAS PRICE ▼ 2026-05-06
Progress toward a peace deal reduces supply disruption fears, lowering natural gas prices.
MAY 5 Closed: −2.76%
🇺🇸 Conflict De-Escalation 2026-05-05
🇪🇺 GAS PRICE ▼ 2026-05-05
US downplayed conflict risk, calming fears and reducing gas prices.
🇮🇷 Military Strike 2026-05-05
🇬🇧 GAS PRICE ▲ 2026-05-05
Renewed Middle East tensions threaten supply routes, pushing UK natural gas prices higher.

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MAY 4 Closed: +1.16%
🕌 Shipping Disruption 2026-05-04
🇪🇺 GAS PRICE ▲ 2026-05-04
Disruptions in the Strait of Hormuz reduced LNG supply, tightening global gas markets and raising European prices.
🇺🇸 Military Escort Operation 2026-05-04
🇪🇺 GAS PRICE ▼ 2026-05-04
The US escort operation eased supply concerns, reducing gas prices.
MAY 1 Closed: +6.09%
🇺🇸 Lng Export Rise 2026-05-01
🇺🇸 GAS PRICE ▲ 2026-05-01
Higher LNG exports reduce domestic supply, pushing natural gas prices up.
APR 1 – APR 30, 2026
APR 30 Closed: −1.35%
🕌 Lng Supply Decline 2026-04-30
🇪🇺 GAS PRICE ▲ 2026-04-30
Blockade of Strait of Hormuz cuts LNG supply, pushing European gas prices higher.
🇮🇷 Diplomatic Negotiation Progress 2026-04-27
🌍 Oil Price Decline 2026-04-27
The ceasefire proposal reduced fears of supply disruption, causing oil prices to fall.
🇦🇺 GAS PRICE ▼ 2026-04-30
Lower crude oil prices reduced costs for oil-linked gas contracts, causing gas prices to fall.
APR 29 Closed: −2.13%
🇺🇸 Military Blockade 2026-04-29
🇪🇺 GAS PRICE ▲ 2026-04-29
Blockade of Iran disrupts LNG supply through Strait of Hormuz, raising European gas prices.
🇺🇸 Temperature Rise 2026-04-29
🇺🇸 GAS PRICE ▼ 2026-04-29
Mild weather reduces heating demand, increasing natural gas inventories and pushing prices lower.
APR 28 Closed: +0.82%
🇮🇷 Diplomatic Negotiation Progress 2026-04-28
🇪🇺 GAS PRICE ▼ 2026-04-28
Traders expect the peace proposal to reopen a key shipping route, boosting supply and lowering prices.
APR 27 Closed: +0.48%
🇮🇷 Strait Blockade 2026-04-27
🇬🇧 GAS PRICE ▲ 2026-04-27
Blockade of Strait of Hormuz disrupts LNG supply, raising UK natural gas prices.
🇺🇸 Peace Talks Failure 2026-04-27
🇪🇺 GAS PRICE ▲ 2026-04-27
Failed peace talks keep tensions high, disrupting LNG supply from the Persian Gulf, pushing prices up.
🇺🇸 Inventory Rise 2026-04-27
🇺🇸 GAS PRICE ▼ 2026-04-27
Rising inventories mean more supply, which pushes natural gas prices lower.
🇺🇸 Production Decline 2026-04-27
🇺🇸 GAS PRICE ▲ 2026-04-27
Production decline reduces supply, pushing natural gas prices higher.
APR 24 Closed: −3.48%
🇮🇷 Diplomatic Negotiation 2026-04-24
🇪🇺 GAS PRICE ▼ 2026-04-24
Hopes for US-Iran talks progress eased supply disruption fears, lowering gas prices.

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APR 23 Closed: −3.97%
🇺🇸 Gas Storage Rise 2026-04-23
🇺🇸 GAS PRICE ▼ 2026-04-23
High storage levels mean more supply, which pushes natural gas prices down.
🇺🇸 Military Strike 2026-04-20
🇮🇷 Shipping Disruption 2026-04-20
The US military strike on an Iranian ship caused Iran to close the Strait of Hormuz in retaliation.
🕌 Lng Supply Disruption 2026-04-23
Iran's closure of the Strait of Hormuz has blocked LNG shipments from the Persian Gulf, cutting global supply.
🇪🇺 GAS PRICE ▲ 2026-04-23
LNG supply disruptions from the Persian Gulf reduce available gas for Europe, pushing prices higher.
APR 22 Closed: +0.93%
🇺🇸 Peace Talk Uncertainty 2026-04-22
🇪🇺 GAS PRICE ▲ 2026-04-22
Uncertainty over US-Iran peace talks keeps the Strait of Hormuz closed, disrupting gas supply and pushing prices higher.
🇺🇸 Lng Export Rise 2026-04-22
🇺🇸 GAS PRICE ▲ 2026-04-22
Higher LNG exports increase demand for natural gas, pushing prices up.
APR 21 Closed: +0.3%
🇺🇸 Gas Production Decline 2026-04-21
🇺🇸 GAS PRICE ▲ 2026-04-21
Lower production reduces supply, which pushes up natural gas prices.
🇮🇷 Military Conflict 2026-04-21
🇪🇺 GAS PRICE ▲ 2026-04-21
Military conflict disrupts LNG shipments through the Strait of Hormuz, reducing supply to Europe.
🌍 Peace Talk Anticipation 2026-04-21
🇪🇺 GAS PRICE ▼ 2026-04-21
Expectations for renewed US-Iran peace talks reduced fears of supply disruptions, lowering gas prices.
🇺🇸 Storage Surplus 2026-04-21
🇺🇸 GAS PRICE ▼ 2026-04-21
A persistent storage surplus, due to mild weather and strong inventory injections, increased supply and reduced demand pressure on natural gas prices.
APR 20 Closed: +0.56%
🇺🇸 Military Strike 2026-04-20
🇮🇷 Shipping Disruption 2026-04-20
The US military strike on an Iranian ship caused Iran to close the Strait of Hormuz in retaliation.
🌍 GAS PRICE ▲ 2026-04-20
The closure of the Strait of Hormuz disrupts global energy supply routes, reducing available natural gas and pushing prices higher.
🇪🇺 Stock Market Decline 2026-04-20
Higher gas prices increase inflation risks and threaten economic growth, causing investors to sell European stocks.
APR 17 Closed: +1.02%
🇪🇺 Temperature Rise 2026-04-17
🇪🇺 GAS PRICE ▼ 2026-04-17
Warmer weather reduces heating demand, lowering natural gas consumption and prices.
🕌 Diplomatic Negotiation Progress 2026-04-17
🇪🇺 GAS PRICE ▼ 2026-04-17
Diplomatic progress in the Middle East eased fears of supply disruptions, lowering natural gas prices.
🇨🇳 Demand Decline 2026-04-17
🇪🇺 GAS PRICE ▼ 2026-04-17
China's reduced demand for LNG means less competition for cargoes, lowering European natural gas prices.
🇪🇺 Wind Generation Rise 2026-04-17
🇪🇺 GAS PRICE ▼ 2026-04-17
Increased wind power generation reduced demand for natural gas, putting downward pressure on prices.

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APR 16 Closed: +1.42%
🇺🇸 Diplomatic Negotiation Progress 2026-04-16
🇪🇺 GAS PRICE ▼ 2026-04-16
Progress in US-Iran ceasefire talks reduces supply disruption fears, lowering natural gas prices.
🇺🇸 Inventory Decline 2026-04-16
🌍 GAS PRICE ▲ 2026-04-16
Gasoline inventories fell sharply, which normally pushes prices up, but prices fell due to peace talks.
🇪🇺 Stock Market Decline 2026-04-20
Higher gas prices increase inflation risks and threaten economic growth, causing investors to sell European stocks.

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