UK natural gas prices rose above 215 pence per therm, near their highest level since late 2022, as Middle Eastern LNG exports remained constrained and gas storage levels were still low. Shipping disruptions through the Strait of Hormuz trapped almost 20% of global LNG shipments from the Persian Gulf. Although countries including the US, Canada, and Nigeria have increased LNG exports, curtailed supplies from the Persian Gulf has intensified competition for spot cargoes, limiting availability for Europe and making it harder for the region to rebuild inventories. Europe’s gas storage facilities are around 74% full, still below historical averages. Exacerbating the problem, forecasts point to cooler autumn, which could drive up heating demand and prompt earlier withdrawals from storage. Meanwhile, growing renewable output in the UK has reduced dependence on gas-fired electricity, but the country remains exposed to fuel price swings.
UK Gas rose to 218.58 GBp/thm on October 20, 2026, up 0.52% from the previous day. Over the past month, UK Gas's price has risen 20.37%, and is up 169.09% 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 October 20 of 2026.
UK Gas rose to 218.58 GBp/thm on October 20, 2026, up 0.52% from the previous day. Over the past month, UK Gas's price has risen 20.37%, and is up 169.09% 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 228.09 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 278.18 in 12 months time.