US natural gas futures fell to around $2.98 per MMBtu on Friday, trimming gains from the previous session, after the Trump administration said it is considering several measures to combat rising energy prices due to the ongoing conflict in the Middle East. Despite the pullback, prices remain on track for a weekly gain of more than 4%, amid concerns that the conflict could cause prolonged disruptions to vital Middle East gas supplies. Uncertainty over the timeline for restoring full operations at QatarEnergy’s Ras Laffan plant, the world’s largest LNG export hub, has heightened fears of a potential supply shortfall, particularly with the Strait of Hormuz also closed. Additional support for prices has come from a bigger-than-expected storage withdrawal, alongside warmer weather forecasts pointing to higher-than-expected demand this week.
