UK natural gas futures jumped to around 78 pence per therm after Iranian state media said Tehran would not allow enriched uranium to leave the country, heightening tensions in US-Iran nuclear talks in Geneva just days before President Donald Trump’s deadline for a deal. While Omani mediators earlier described the discussions as “creative and positive,” fears of escalation revived concerns over disruptions in the Strait of Hormuz, a crucial chokepoint for nearly 20% of global LNG trade from Qatar and the UAE. Any blockage could tighten global gas availability, and the UK is especially exposed due to reliance on imports and limited storage. Domestic inventories are only about 27.6% full, including Humbly Grove Energy at 9.6%, Storengy UK at 24.3%, and Uniper Energy Storage at 53.5%, leaving the country vulnerable to external supply shocks.

UK Gas rose to 79.79 GBp/thm on February 27, 2026, up 2.66% from the previous day. Over the past month, UK Gas's price has fallen 11.94%, and is down 23.63% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, UK Natural Gas reached an all time high of 800 in March of 2022. UK Natural Gas - data, forecasts, historical chart - was last updated on February 28 of 2026.

UK Gas rose to 79.79 GBp/thm on February 27, 2026, up 2.66% from the previous day. Over the past month, UK Gas's price has fallen 11.94%, and is down 23.63% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas is expected to trade at 79.30 GBp/Thm by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 91.58 in 12 months time.



Price Day Month Year Date
Crude Oil 67.02 1.810 2.78% 6.03% -3.93% Feb/27
Brent 72.87 2.030 2.87% 8.16% 0.08% Feb/27
Natural gas 2.86 0.0320 1.13% -23.39% -25.43% Feb/27
Gasoline 2.30 0.0479 2.13% 21.63% 3.16% Feb/27
Heating Oil 2.59 0.0684 2.71% 6.02% 11.67% Feb/27
TTF Gas 31.89 -0.26 -0.80% -14.01% -28.05% Feb/27
UK Gas 77.93 0.2028 0.26% -14.00% -25.41% Feb/27
Ethanol 1.79 0 0% 9.48% 4.37% Feb/27
Naphtha 570.78 0.42 0.07% 5.08% -12.87% Feb/26
Propane 0.66 0.01 1.02% 1.27% -28.43% Feb/26
Uranium 86.55 -1.5000 -1.70% -11.95% 32.04% Feb/27
Methanol 2,165.00 -15.00 -0.69% -5.25% -16.79% Feb/27


UK Natural Gas
UK Natural Gas Futures is a national benchmark price. Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the National Balancing Point (NBP) Virtual Trading Point, operated by National Grid, the transmissions system operator in the UK. Delivery is made equally each day throughout the delivery period. Futures are available for trading in the Intercontinental Exchange Inc. (ICE). Our natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
79.79 77.72 800.00 0.11 1997 - 2026 GBp/Thm Daily

News Stream
UK Natural Gas Futures Rise on LNG Supply Risks
UK natural gas futures jumped to around 78 pence per therm after Iranian state media said Tehran would not allow enriched uranium to leave the country, heightening tensions in US-Iran nuclear talks in Geneva just days before President Donald Trump’s deadline for a deal. While Omani mediators earlier described the discussions as “creative and positive,” fears of escalation revived concerns over disruptions in the Strait of Hormuz, a crucial chokepoint for nearly 20% of global LNG trade from Qatar and the UAE. Any blockage could tighten global gas availability, and the UK is especially exposed due to reliance on imports and limited storage. Domestic inventories are only about 27.6% full, including Humbly Grove Energy at 9.6%, Storengy UK at 24.3%, and Uniper Energy Storage at 53.5%, leaving the country vulnerable to external supply shocks.
2026-02-26
UK Natural Gas Futures Rebound
UK natural gas futures rose above 75 pence per therm as geopolitical tensions lifted supply risk premiums. Comments from Donald Trump that Iran is rebuilding its nuclear program increased speculation about potential military action and the risk of disruption in the Strait of Hormuz, a key shipping lane for nearly 20% of global LNG flows, largely from Qatar. Any blockage of the waterway would tighten global gas availability. The UK is particularly exposed due to its reliance on imports and limited storage capacity. Domestic inventories are only about 27.6% full, with facilities such as Humbly Grove Energy at 9.6%, Storengy UK at 24.3% and Uniper Energy Storage Ltd at 52.2%, leaving the country vulnerable to external supply shocks.
2026-02-25
UK Natural Gas Futures Pull Back
UK natural gas futures dropped more than 5% to below 78 pence per therm after Donald Trump said he is considering a limited military strike on Iran, giving Tehran up to 15 days to reach a nuclear agreement. The main risk remains a potential Iranian move to block the Strait of Hormuz, a critical shipping lane through which nearly 20% of global LNG flows, largely from Qatar. Any closure would significantly tighten global gas markets. The UK is particularly exposed because it depends heavily on imports and has limited storage capacity. Domestic gas inventories are only about 29.4% full, with sites such as Humbly Grove Energy at 9.6%, Storengy UK at 24.3%, and Uniper Energy Storage Ltd at 58.8%. Low reserves leave the country vulnerable to external supply shocks.
2026-02-20