Brent Crude Hovers Near $105 as Hormuz Tanker Attacks Persist
Brent eased toward $105 on Oct. 13 as Russian diesel hopes and a Ukraine energy pause offset Iranian tanker attacks; US gasoline sits near $4.36.
Natural gas prices sit at the intersection of energy markets, industrial demand, and geopolitics, making them one of the most closely watched indicators in the global economy. Unlike oil, natural gas trades in largely regional markets, so prices in Europe, Asia, and North America can diverge sharply depending on pipeline capacity, LNG export terminals, storage levels, and weather patterns. A cold snap, a supply disruption, or a shift in export policy can send prices swinging within days, with knock-on effects for electricity bills, manufacturing costs, and inflation.
The topic matters more than ever as demand patterns shift rapidly. The explosive growth of data centers and AI computing is straining power grids and forcing utilities to rethink generation capacity, often leaning on gas-fired plants for reliable baseload power. At the same time, transatlantic price gaps continue to shape trade flows, competitiveness, and energy security strategy, particularly for Europe as it navigates reduced pipeline supply and growing reliance on imported LNG. Regulatory decisions, from fuel waivers to emissions rules, add another layer of complexity, balancing affordability against environmental tradeoffs.
Here, readers will find ongoing coverage of price movements and the forces driving them: supply and storage data, LNG trade developments, grid and utility responses to surging electricity demand, policy and regulatory shifts, and analysis from major banks and energy forecasters. Whether the story is about a heat wave straining grids, a new data center power deal, or a policy change affecting pump prices, this hub tracks how natural gas markets respond to a rapidly evolving energy landscape.
Brent eased toward $105 on Oct. 13 as Russian diesel hopes and a Ukraine energy pause offset Iranian tanker attacks; US gasoline sits near $4.36.
Natural gas futures fell 2% on Oct 12 as Hurricane Isaias Gulf shut-ins began unwinding, while oil above $100 and record gasoline prices persist.
Hurricane Isaias shut in about 25% of US Gulf oil output as Brent topped $100, yet GasBuddy says average gas slipped 0.4 cents to $4.29.
European gas prices are up over 150% as Hormuz disruptions strand Qatari LNG and EU storage sits at a 13-year low, while US gasoline stays 46% above pre-war.
Brent fell toward $103 on Oct. 9 after Trump ruled out Iran strikes before the midterms and China restarted fuel exports. Hurricane Isaias cut Gulf output.
US natural gas futures settled at $3.22/mmBtu, a two-week high, as Hurricane Isaias shut in 59% of Gulf gas output and LNG feedgas dipped on outages.
Brent fell about 1% to near $103 on Oct. 9 after Trump cited productive Iran talks and paused strikes until the midterms, while a hurricane cut Gulf oil output.
Sir Jim Ratcliffe's Ineos is idling its acetyls plants in Hull after UK natural gas prices roughly doubled, hitting the highest level since December 2022.
AAA reports Western Pennsylvania gas prices rose 23 cents in a week to $4.537 as crude oil neared $100 a barrel amid Strait of Hormuz volatility.
South Carolina gas prices rose about 17 cents in a week to near $3.90 a gallon as crude oil surged past $100 amid Middle East tensions.
Iran doubled its gasoline price for heavy users to 100,000 rials per liter amid war strain, sanctions and record fuel consumption.
US-Iran fighting resumed, sending Brent above $91 and WTI near $87, with GasBuddy forecasting a record $4.03 Labor Day gas average.
Venture Global seeks to more than double Plaquemines LNG capacity under Trump's fast-tracked energy emergency permitting, raising price and wetland concerns.
EPA lets refiners switch early to cheaper winter gasoline, potentially cutting prices but raising smog concerns as state averages diverge widely.
Waterford gas averages $3.99/gallon, below CT and US rates, as national prices stay above $4 amid regional swings.
LA and Orange County gas prices rose for a ninth straight day to $5.705 a gallon, even as national and state averages moved unevenly.
Iowa regulators ordered Alliant Energy to cut natural gas rates by $2.6 million amid global gas price volatility and rising data center demand.
Arkansas gas fell to about $3.96, roughly a 3-cent dip in two weeks. Crude bounced back above $90, natural gas held near $3.17, and US gas is still near $4.34.
Oil prices swung sharply this week as US-Iran tensions eased, with Brent falling toward $85 on hopes for reduced Middle East supply risk.
Gas prices are rising from Virginia to California, with Connecticut, Arizona and LA all posting notable weekly increases.
US-Canada trade tensions threaten farm goods as gas, natural gas and global energy prices stay volatile.
Brent dropped to about $85 in late August on Hormuz hopes as Nvidia beat estimates. It has since climbed back above $105, while AI gas demand forecasts doubled.
Qatar shipped just 18 LNG cargoes in six months of the US-Iran war, down 96% from 509, pushing European and Asian gas prices to multiyear highs.
Gas prices are rising nationwide, with Connecticut towns tracking below average while LA, Alaska, and diesel prices surge sharply.
Ridgefield drivers paid about $4.51 a gallon in early October, above Connecticut's $4.45 and the US $4.35, as crude rebounded above $90 a barrel.
Gas prices are rising in Virginia and nationwide, driven by seasonal demand and global supply disruptions tied to conflicts abroad.
Goldman Sachs says European gas may need to hit €100/MWh for winter supply, as US gasoline prices also climb amid global tensions.
Guam Sen. Will Parkinson asked the power authority to disclose data center loads after reserves fell to 4 MW above peak demand, with load shedding still a risk.
Roanoke gas rose 6 cents in late August, then passed $4 a gallon by mid-September. Brent near $104 and tight refined fuel supply keep prices high into October.
TVA approves a new data center electricity rate as utilities nationwide grapple with AI-driven power demand and cost-shifting fights.