Economics
Trump's Iran Move May Kick Worst U.S. Gas Market While It's Down
- Oil rally set to boost natural gas production from Permian
- West Texas gas price seen dropping to zero some days
Oil Is Above $70 on Iran Uncertainty
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President Donald Trump’s decision to scrap the Iran nuclear deal and restore sanctions was great for oil bulls. But for natural gas drillers in America’s hottest shale play, it could be a disaster in the making.
The highest oil prices in more than three years are poised to boost output from areas like West Texas’ Permian Basin, the most prolific U.S. reservoir of the fuel. That would add to the supply of gas that’s produced alongside crude there, making an existing glut even bigger.