Shares of NextDecade (NEXT +1.90%) climbed along with energy prices on Thursday.
By the close of trading, the liquefied natural gas (LNG) producer's stock price was up nearly 7%.
Image source: Getty Images.
Tensions remain high in the Middle East
President Donald Trump provided an update on the U.S. military's operations in Iran on Wednesday night. Trump indicated that the U.S. could achieve its objectives in two to three weeks. However, he also warned that he may be forced to intensify strikes on Iran if a peace deal is not reached.
NASDAQ: NEXT
Key Data Points
Judging by the surge in oil prices on Thursday, Trump's speech was unable to assuage investors' fears regarding the closure of the Strait of Hormuz -- or provide a concrete timeline for its reopening. Roughly 20% of global oil and gas shipments pass through this crucial waterway.
The world needs alternative energy supplies
Much of the oil and gas that traverses the Strait of Hormuz ends up in Asia and Europe. With shortages already beginning to materialize in these markets, governments are racing to secure critical energy supplies from U.S. producers.
As a leader in the construction of natural gas liquefaction and export facilities, NextDecade is well-positioned to help meet the soaring demand for reliable LNG shipments.
