Report: U.S. natural gas futures rise, influenced by global energy turmoil

Natural gas futures in the United States rose, as concerns over global liquefied natural gas supply outweighed bearish near-term weather outlooks domestically. Gelber & Associates stated in a report, "The market continues to respond to the damage and shutdown of the Qatar liquefied natural gas system earlier this week, which has disrupted a significant portion of global supply and forced buyers to reassess their pricing of alternative risks." The company added that domestic supply is ample and mild temperatures this week have led to subdued demand. The shutdown in Qatar "has provided a geopolitical floor to U.S. natural gas prices by making liquefied natural gas supply disruptions, cargo rearrangements and export options the focus." The settlement price of natural gas for April delivery on the New York Mercantile Exchange rose by 6.1% to $3.186 per million British thermal units.