US natural gas up 4% as Ukraine war causes global energy prices to soar

Front-month gas futures rose 18.9 cents, or 4.1%, to settle at US$4.762 per million British thermal units (mmBtu), their highest close since Feb. 3.(File pic shows Malaysia's MISC LNG tanker Camellia.)

NEW YORK: U.S. natural gas futures rose about 4% to near a four-week high on Wednesday, gaining some rare support from surging global oil and gas prices as the Russia-Ukraine conflict stokes energy supply concerns.

Since the start of the year, the U.S. gas market has mostly shrugged off what was happening in Europe, focusing more on domestic weather and supply and demand.