%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %NaturalGas prices in the U.S. have jumped 7% higher as militant attacks along the Red Sea shipping corridor escalate. Futures prices for U.S. natural gas have risen to their highest level since November 2023, and are up more than 13% so far in 2024, amid growing chaos in the Red Sea, one of the world’s busiest shipping routes. The latest media reports say that U.S. and British warships shot down 18 drones fired by Houthi militants from Yemen, in what is being described as the biggest attack yet on container ships traveling through the Red Sea that connects Europe and Asia through the Middle East. The Houthi militants say they are protesting Israel’s ongoing war against Hamas in Gaza. The attacks are heightening concerns about global natural gas supplies, particularly container shipments of liquified natural gas (LNG). The U.S. produces more natural gas than it consumes and sells the surplus supply abroad. The Red Sea attacks are driving up energy prices by making it riskier and more expensive to ship liquified natural gas from America to Europe and Asia. At the same time, winter conditions and cold weather throughout the central and northeastern U.S. are raising demand for natural gas to heat homes in America, say analysts. Natural gas is currently trading at $3.015 U.S. per MMBtu level.