Natural Gas is trading 0.8% up at $3.24 as traders balance regional supply disruptions against a de-escalation of geopolitical risks in the Middle East.
- Ongoing strike action at INPEX’s Ichthys LNG project in Australia threatens up to 10% of the country's LNG exports, sparking global supply concerns.
- Gains are being partially offset by reduced shipping risks following a U.S.–Iran agreement to ensure the reopening of the Strait of Hormuz.