Commodities
Home›Commodities›Energy›Venture Global jumps as natural gas futures rise on US…
Venture Global jumps as natural gas futures rise on US Iran tensions
August Henry Hub natural gas futures gained 1.9% to $2.91, while Brent and WTI each climbed more than 4.4%.
Venture Global shares surged week over week, rising 12.7% as investors rotated into energy stocks amid higher oil and natural gas prices tied to escalating US-Iran tensions, according to Yahoo Finance.
Bloomberg data cited by Yahoo Finance showed August Henry Hub natural gas futures up 1.85% at $2.91, reflecting concerns about tighter global gas supplies. Crude benchmarks also moved sharply higher, with Brent up 4.59% to $88.10 and West Texas Intermediate up 4.48% to $82.49, each at about one month highs.
The move in energy prices was linked to renewed fighting, including a Kuwait statement that Iran damaged a power and water desalination plant after a missile attack. Yahoo Finance also pointed to Marine Traffic data showing 57 transits through the Strait of Hormuz last weekend versus 130 daily before the conflict began, with about 20% of global crude supply passing through the chokepoint.
Yahoo Finance said the geopolitical backdrop has served as a tailwind for energy demand and companies whose earnings track natural gas prices. Venture Global is up 24% for the month, and the outlet noted the company reported first-quarter net income up 23% to $488 million on revenues up 59% to $4.599 billion year over year, with 130 cargoes exported and 481 TBtu of liquefied natural gas sold in the quarter.
Latest closeWTI crude $79.00 ▼0.8%|Brent $84.94 ▼0.0%|Nat gas $2.895 ▼1.0%