Pakistan, May 2 -- The United States is facing a natural gas surplus that cannot reach global markets, even as prices surge sharply in Europe and Asia. The imbalance highlights deep disruptions in global energy flows following the Iran conflict and restricted Gulf exports. The situation has created a stark divide between domestic and international gas markets.

The US remains the world's largest producer and exporter of natural gas, but export capacity is constrained. LNG terminals are already operating near maximum limits, preventing additional supply from reaching overseas buyers. As a result, domestic prices have fallen even while global prices rise.

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Moreover, the cri...