Weekly Special Report: Natural Gas

NATURAL GAS: USE AND MARKET SHARE

• NATURAL GAS is mainly used for electricity generation in the U.S. Natural gas power plants supplied roughly 42%–46% of U.S. electricity during recent summers, largely because of air conditioning demand.
• MARKET SHARE (PRODUCERS): BIGGEST NATURAL GAS PRODUCERS IN THE WORLD. The U.S. is the largest producer, accounting for around 25% of global natural gas production, while Russia ranks second with about 15%. Qatar contributes roughly 4–5%, while Iran accounts for approximately 6-7% of total global production.
• MARKET SHARE (TOTAL NATURAL GAS + LNG IMPORTERS): China is the world’s largest importer, accounting for approximately 20% of global imports, followed by Japan with around 16–18%. The European Union represents the largest bloc, accounting for roughly 27% of total natural gas imports.

Sources: EIA

GEOPOLITICS: MIDDLE EAST WAR

• BREAKING (SEPTEMBER 8–10): U.S.-IRAN TENSIONS REMAIN HIGH AS ATTACKS ON TANKERS AND U.S. BASES CONTINUE. The U.S. said it destroyed five Iranian oil tankers, including one near Kharg Island. Iran retaliated with a ballistic missile attack on a U.S.-used base in Jordan and said it attacked 10 ships, including eight oil tankers, attempting to cross the Strait of Hormuz.
• BREAKING (SEPTEMBER 7–10): HOUTHI-SAUDI CONFLICT ESCALATES. Houthi forces launched attacks on several Saudi cities and claimed strikes on Abha Airport, King Khalid Air Base, and Saudi Aramco facilities. Saudi forces responded, while fighting has intensified near the Bab al-Mandab Strait, a key route for around 8% of global LNG trade. Saudi Aramco’s Jizan oil facilities, which include a 400,000-barrel-per-day refinery, were also hit.
• QATAR, WHICH ACCOUNTS FOR AROUND 20% OF GLOBAL LNG (Liquefied Natural Gas) EXPORTS, REMAINS EXPOSED TO THE STRAIT OF HORMUZ RISK, as a large share of its LNG shipments passes through the route.

Sources: Bloomberg, Reuters, CNBC

NATURAL GAS STORAGE: EUROPE

• EUROPEAN GAS STORAGE REMAINS WELL BELOW NORMAL LEVELS: EU storage levels are around 67.33% full, up from around 35% in early April but still well below the five-year average of around 80% and at their lowest level for this time of year in 15 years. Europe purchases more than 50% of its LNG imports from the U.S., so lower inventories ahead of winter could maintain strong demand for U.S. LNG and support U.S. natural gas prices.

U.S. WEATHER FORECASTS

• U.S. NOAA (National Weather Service) FORECASTS ABOVE-AVERAGE TEMPERATURES ACROSS MUCH OF THE U.S. INTO MID-SEPTEMBER. Warmer than normal weather is expected across large parts of the United States, which could increase air conditioning use and electricity demand, boosting natural gas consumption and supporting prices.

TECHNICAL ANALYSIS

• SUPPORT AREA: $3.00 - $2.70. Natural gas prices have maintained a key support area between $3.00 and $2.70 since October 2024, repeatedly rebounding from this range. Prices are currently testing this support area again, and holding above it could support another rebound. However, prices could also decline.

GRAPH (Daily): October 2024 - September 2026

Please note that past performance does not guarantee future results

Natural Gas, September 10, 2026
Current Price:  2.780

Example of calculation based on weekly market trend for 1.00 Lot¹

1. The above calculations are made based on 1.00 lot which is equivalent of 10,000 units
2. Calculations for exchange rate used as of 11:50 (GMT+1) 10/09/2026

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