US Natural Gas Futures Waver on Plunging Oil Price, Lower Output

US natural gas futures fluctuated between slight gains and losses, paring an earlier rise as Iran’s foreign minister said the Strait of Hormuz was “completely open.” The news sent oil prices plunging, triggering immediate financial outflows from baskets of energy products that include the US gas contract. The tandem price move happened despite near-term supply and demand for US gas remaining fundamentally unaffected by such geopolitical developments.