---
symbol: "NATGAS"
name: "Natural Gas"
date: 2026-11-09
change_pct: 7.54038344198593
direction: "up"
event_type: "geopolitical"
url: "https://perplo.app/why/NATGAS/2026-11-09"
updated_at: 2026-11-09T18:06:44.863Z
---

# Why Natural Gas (NATGAS) rose 7.54% on November 9, 2026

Natural Gas (NATGAS) rose 7.54% on November 9, 2026 — Khor Mor gas field outage tightens regional gas supply.

## What happened

A suspected Iranian drone strike halted the Khor Mor gas field in Iraq and cut two-thirds of Kurdistan's power supply. Natural gas rose 7.5% on the outage.

## Why it moved

Khor Mor is a producing gas field, so losing its output directly tightens regional supply at a time when LNG markets are already stretched.

## Why it matters

This sits in the Natural Gas Cycle theme, where winter demand and LNG tightness had been supporting prices. The longer-term Qatar supply deal and mild-winter forecasts had been stalling that rally, so a supply shock…

## What would break the thesis

The move unwinds if operators restore output faster than expected or backup supply covers the gap. Any de-escalation that reduces the risk of further strikes on regional infrastructure would also remove the premium.

## Sources

- [Suspected Iranian drone strike halts Iraq gas field, cuts two thirds of Kurdistan power](https://investinglive.com/commodities/suspected-iranian-drone-strike-halts-iraq-gas-field-cuts-two-thirds-of-kurdistan-power/) — ForexLive
- [Global LNG Markets Face a Winter of Extreme Uncertainty](https://oilprice.com/Energy/Energy-General/Global-LNG-Markets-Face-a-Winter-of-Extreme-Uncertainty.html) — OilPrice
- [Nordic Power Prices Could Soar This Winter as Hydropower Reserves Plunge](https://oilprice.com/Latest-Energy-News/World-News/Nordic-Power-Prices-Could-Soar-This-Winter-as-Hydropower-Reserves-Plunge.html) — OilPrice

---

Trade NATGAS perpetual futures 24/7 onchain: https://perplo.app/asset/NATGAS