Shafaqna English– The conflict with Iran has driven up global natural gas prices by restricting exports from the Persian Gulf. Meanwhile, in West Texas, gas is so plentiful that some producers are forced to pay others to take it off their hands.
The United States, which leads the world in gas production, consumption, and exports, remains flooded with cheap fuel, with prices hovering near their lowest levels in 17 months.
However, because U.S. pipelines are operating at full capacity and LNG export terminals are maxed out, this inexpensive American gas cannot reach international buyers. This has created a market split far more pronounced than what is seen in oil markets.
Source: Reuters