Global natural gas prices were stable Monday despite Iran’s unprecedented attack on Israel as the market assessed whether a broader conflict could break out in the Middle East. 

The May Title Transfer Facility contract in Europe climbed 1% to finish near $9.70/MMBtu, adding to the strongest gains last week since October amid rising geopolitical tensions. But an unplanned outage offshore Norway and cooler weather forecast for the continent over the next two weeks also contributed to price gains in Europe on Monday.

The Japan-Korea Marker fell closer to $9 Monday in what turned out to be a largely muted reaction to Iran’s attack, which was largely intercepted by Israel’s defense systems and had little impact. 

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