Natural Gas Prices Plummet 11% as Israel-Iran Conflict Cools

U.S. natural gas prices crashed on Monday after Israel launched limited attacks on Iran while Supreme Leader Ayatollah Ali Khamenei helped cool tensions after he announced Iran would not issue a direct response to Israel’s latest attacks.  Natural gas prices were trading down 11% to $2.284/MMBtu at 11.17 am CDT in Monday’s session. U.S. gas production from the lower 48 states averaged 102.8 Bcf/d over the weekend, close to 103 Bcf/d summer high and up about 2 Bcf/d from autumn lows. In 2023, U.S. natural gas prices averaged $2.57/MMBtu,…