Natural Gas — Events & Drivers

Analysis date: 2026-03-13

Unified Events

idnameparentcategorytemporalStaterealizationStatusvaluetrendsignificancedirectionmagnitudedurationprobabilityconfidencedatestartDateprojectedEndleadTimeleadTimeBasissourceTypelastUpdatedtopicssourcesevidenceForevidenceAgainstleadTimeEvidencereferences
EV001Qatar LNG halt — Ras Laffan complex shut-supplypresentconfirmed20% of global LNG supply offlinestablehighbullishmajorshort-high2026-03-132026-02-282026-04-15--llm-search2026-03-13supply,lng,qatar,disruptionS001,S002SF001,SF002,SF003,SF004--EV002
EV002Hormuz Strait blockage — limited traffic testing passage-supplypresentconfirmedCommercial passage blockedstablehighbullishmajorshort-high2026-03-132026-02-282026-04-01--llm-search2026-03-13supply,hormuz,geopoliticalS001,S003SF005,SF006,SF007SF007-EV001,EV006
EV003US gas production growth to 118 Bcf/d for 2026-supplypresentconfirmed118 Bcf/d production forecastincreasingmediumbearishmoderatestructural-high2026-03-13----llm-search2026-03-13supply,production,domesticS004----
EV004US LNG export capacity rising to ~19 Bcf/d-supplypresentconfirmed~19 Bcf/d export capacityincreasingmediumbearish-domestic/bullish-globalmoderatestructural-high2026-03-13----llm-search2026-03-13supply,lng,exports,capacityS004,S005SF012--EV008
EV005QatarEnergy delays LNG expansion to 2027-supplypresentconfirmedExpansion delayed to 2027stablemediumbullishmoderatesustained-high2026-03-132026-03-12---llm-search2026-03-13supply,lng,qatar,long-termS002---EV001
EV006War winding down — "practically nothing left" to target-supplypresentconfirmedWar ending in 2-4 weeksfadinghighbearishmoderateshort-medium2026-03-132026-02-282026-03-31--llm-search2026-03-13geopolitical,war,iran,normalizationS001,S006,S007SF008,SF009SF010-EV001,EV002
EV007IEA 400M barrel reserve release-supplypresentconfirmed400M barrels being releasedstablelowbearishmajortransient-high2026-03-132026-03-112026-05-01--llm-search2026-03-13supply,oil,reserves,policyS008----
EV008European TTF prices +50% since conflict — demand pull for US LNG-demandpresentconfirmedTTF +50% since Feb 28stablehighbullishmajorshort-high2026-03-132026-02-28---llm-search2026-03-13demand,lng,europe,exportsS002,S009SF011,SF012,SF013SF013-EV001,EV004
EV009Milder weather reducing heating demand-demandpresentconfirmedHeating demand -21% WoWfadinghighbearishmoderatetransient-high2026-03-132026-03-052026-03-31--llm-search2026-03-13demand,weather,seasonalS010SF014,SF015---
EV010US economic weakness — NFP -92K, unemployment 4.4%-demandpastconfirmedNFP -92K, unemployment 4.4%stablemediumbearishmoderateshort-high2026-03-06----llm-search2026-03-13demand,economic,employmentS011SF016,SF017,SF018--EV012
EV011ISM Services PMI strong at 56.1-demandpastconfirmedISM Services 56.1 beatimprovinglowbullishminorshort-high2026-03-05----llm-search2026-03-13demand,economic,servicesS012---EV010
EV012Q4 2025 GDP deceleration to 1.4%-demandpastconfirmedQ4 GDP 1.4%decliningmediumbearishmoderateshort-high2026-02-20----llm-search2026-03-13demand,economic,gdpS013---EV010
EV013EIA STEO forecast Henry Hub $3.80 avg for 2026-demandpresentconfirmedHenry Hub $3.80 avg forecastdecliningmediumbearishmoderatesustained-high2026-03-10----llm-search2026-03-13price,forecast,eiaS004----
EV014VIX elevated ~30+ on stagflation fears-demandpresentconfirmedVIX ~30+stablelowbearishminorshort-high2026-03-13----llm-search2026-03-13sentiment,volatility,riskS014----

Sources

idsourceauthortypedatequoteaudiencecredibilityimpactreferences
S001Al Jazeera-news-report2026-03-12Iran IRGC still mining strait; some vessels testing passagepublichighconfirms Hormuz blockage ongoingEV001,EV002
S002Bloomberg-news-report2026-03-11Qatar LNG halt extends to longest since at least 2008; QatarEnergy delays expansion to 2027publichighconfirms supply disruption severityEV001,EV005,EV008
S003Bloomberg-news-report2026-03-12Insurance costs prohibitive for commercial Hormuz passagepublichighconfirms blockage economic realityEV002
S004EIA STEO-official-report2026-03-10Henry Hub avg $3.80 for 2026, down 13% from prior forecast; production to 118 Bcf/dpublichighauthoritative price and supply forecastEV003,EV004,EV013
S005S&P Global-data-provider2026-03-13Feedgas averaging ~18 Bcf/d; Corpus Christi Stage 3 onlinepublichighconfirms LNG export capacityEV004
S006CBS News-news-report2026-03-11Trump says war will end soon; practically nothing left to targetpublicmediumsignals war wind-downEV006
S007Axios-news-report2026-03-12US war expected 2-4 more weekspublicmediumconfirms wind-down timelineEV006
S008IEA-official-report2026-03-11Record 400M barrel reserve release agreed; US contributing 172M bblpublichighconfirms coordinated responseEV007
S009CNBC-news-report2026-03-11TTF +50% since conflict start; European buyers seeking US LNGpublichighconfirms demand pullEV008
S010EIA-official-report2026-03-12Natural gas storage -40 Bcf vs -44 expected; heating demand dropped 21%publichighconfirms bearish near-term demandEV009
S011BLS-official-report2026-03-06NFP -92K vs +55K expected; unemployment 4.4%publichighconfirms economic weaknessEV010
S012ISM-official-report2026-03-05Services PMI 56.1 vs 53.5 expectedpublichighpartial offset to employment weaknessEV011
S013BEA-official-report2026-02-20Q4 2025 GDP 1.4% vs 4.4% Q3publichighconfirms economic decelerationEV012
S014CBOE-market-data2026-03-13VIX ~30+, elevated on stagflation fearspublichighconfirms risk-off sentimentEV014

Sub-Factors

idsubFactorparenttypevalueEvidencestatusleadTimestartDateprojectedEndlastUpdatedsourcesreferences
SF001Ras Laffan complex physically shut down since conflict startEV001actionQatarEnergy declared force majeure; complex confirmed offline since ~Feb 28confirmed-2026-02-282026-04-152026-03-13S001,S002EV001
SF002Qatar represents 20% of global LNG supplyEV001capabilityBloomberg Mar 11-12 confirms Qatar is world's largest LNG exporterconfirmed---2026-03-13S002EV001
SF003Restart requires 2-4 weeks minimumEV001constraintRas Laffan requires "100% certainty" of safe passage before restart; complex restart procedures take weeksconfirmed---2026-03-13S001,S002EV001
SF004Restart contingent on Hormuz reopeningEV001constraintLNG tankers must transit Hormuz; no restart until passage confirmed safeconfirmed---2026-03-13S001EV001
SF005Iran actively mining the strait-actionIran IRGC confirmed mining operations; Al Jazeera/Bloomberg Mar 12confirmed-2026-02-28-2026-03-13S001-
SF006Insurance costs prohibitive for commercial passage-constraintBloomberg confirms insurance premiums make passage economically unviableconfirmed---2026-03-13S003-
SF007Some vessels testing passage-actionLimited traffic attempting passage but not at commercial scale; risk remains highpartial---2026-03-13S001-
SF008Trump stated war will end in 2-4 weeksEV006intentionCBS/Axios Mar 11-12: Trump says "practically nothing left" to targetconfirmed---2026-03-13S006,S007EV006
SF009Military intensity decliningEV006actionMultiple sources Mar 12-13 confirm reduced strike activityconfirmed---2026-03-13S006EV006
SF010Mojtaba Khamenei named new supreme leader — Trump "not happy"EV006actionFox News Mar 10-11; leadership change introduces uncertainty about war durationconfirmed---2026-03-13S006EV006
SF011European buyers seeking alternative LNG sources-actionTTF prices +50% since Feb 28; Europe actively bidding for cargoesconfirmed---2026-03-13S009-
SF012US LNG export capacity available to meet demand-capabilityCorpus Christi Stage 3 online; feedgas ~18 Bcf/d; capacity rising to ~19 Bcf/dconfirmed---2026-03-13S004,S005-
SF013US Henry Hub relatively insulated due to domestic production-constraintEIA STEO explicitly notes US gas insulated from Hormuz disruptionconfirmed---2026-03-13S004-
SF014Heating demand dropped 21% week-over-weekEV009actionEIA storage report Mar 12 shows -40 Bcf vs -44 expectedconfirmed---2026-03-13S010EV009
SF015End of withdrawal season approachingEV009constraintLate winter; storage ending near 5-year avg ~1,840 Bcfconfirmed---2026-03-13S010EV009
SF016NFP printed -92,000 vs +55,000 expected-actionBLS released Mar 6; largest monthly job loss since pandemicconfirmed---2026-03-13S011-
SF017Unemployment rate jumped to 4.4% from 4.1%-actionBLS Mar 6; highest since Oct 2021confirmed---2026-03-13S011-
SF018DOGE layoffs contributing to job losses-actionCited as significant factor; specific magnitude unclearpartial---2026-03-13S011-