Actual
164.8200
Daily Change
-3.67 -2.18%
Monthly
11.18%
Yearly
111.77%
Q3 Forecast
167.1301
UK Natural Gas - Summary

UK natural gas prices fell below 165 pence per therm on Friday but remained near their highest level since January 2023, as supply risks remain amid uncertainty over a Middle East peace deal. Prices jumped on Thursday after reports that President Trump was not interested in returning to the terms of a June deal with Iran. This reversed losses from earlier this week, which were driven by progress in talks between Pakistan and Iran to end the conflict and an agreement between Tehran and Oman on control and revenues tied to the Strait of Hormuz. The near-closure of the Strait has continued to disrupt LNG supplies from Qatar, while extreme summer heat-driven cooling demand diverted supplies from storage. These factors have left Europe scrambling to secure supplies, heightening fears that the region could enter the winter heating season with insufficient reserves. For the week, UK gas prices rose around 4%, their third consecutive weekly gain.

UK Natural Gas - Stats

UK Gas fell to 164.82 GBp/thm on August 28, 2026, down 2.18% from the previous day. Over the past month, UK Gas's price has risen 11.18%, and is up 111.77% 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 August 31 of 2026.

UK Natural Gas - Forecast

UK Gas fell to 164.82 GBp/thm on August 28, 2026, down 2.18% from the previous day. Over the past month, UK Gas's price has risen 11.18%, and is up 111.77% 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 167.13 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 209.07 in 12 months time.



Price Day Month Year Date
Crude Oil 85.25 1.849 2.22% 6.11% 31.90% Aug/31
Brent 90.13 2.031 2.31% 7.59% 32.33% Aug/31
Natural gas 2.85 -0.0354 -1.23% 2.57% -4.36% Aug/31
Gasoline 3.07 0.0198 0.65% 3.48% 53.96% Aug/31
Heating Oil 4.29 0.0452 1.06% 10.76% 85.89% Aug/31
EU Gas 69.25 2.27 3.40% 20.43% 116.01% Aug/31
UK Gas 164.82 -3.6700 -2.18% 11.18% 111.77% Aug/28
Ethanol 2.05 0.0300 1.49% 4.59% 4.99% Aug/28
Naphtha 745.84 0.38 0.05% -4.66% 33.38% Aug/28
Propane 0.73 0.01 1.57% -0.06% 5.82% Aug/28
Uranium 89.85 -0.5500 -0.61% 3.75% 17.22% Aug/28
Methanol 2,897.00 85.00 3.02% 10.57% 31.44% Aug/28


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. The data is supplied by a third party and, while efforts are made to ensure its accuracy, Trading Economics does not verify the data and makes no representations or warranties regarding its accuracy..
Actual Previous Highest Lowest Dates Unit Frequency
164.82 168.49 800.00 0.11 1997 - 2026 GBp/Thm Daily

News Stream
UK Natural Gas Prices Remain Elevated
UK natural gas prices fell below 165 pence per therm on Friday but remained near their highest level since January 2023, as supply risks remain amid uncertainty over a Middle East peace deal. Prices jumped on Thursday after reports that President Trump was not interested in returning to the terms of a June deal with Iran. This reversed losses from earlier this week, which were driven by progress in talks between Pakistan and Iran to end the conflict and an agreement between Tehran and Oman on control and revenues tied to the Strait of Hormuz. The near-closure of the Strait has continued to disrupt LNG supplies from Qatar, while extreme summer heat-driven cooling demand diverted supplies from storage. These factors have left Europe scrambling to secure supplies, heightening fears that the region could enter the winter heating season with insufficient reserves. For the week, UK gas prices rose around 4%, their third consecutive weekly gain.
2026-08-28
UK Natural Gas Prices Hold Losses
UK natural gas prices hovered around 165 pence per therm on Thursday after falling for the previous two sessions, as investors assessed diplomatic progress in the Middle East. Iran’s military said Tehran and Oman had reached agreements on the sharing of control and revenues from the Strait of Hormuz. However, Tehran stressed that the deal does not imply an immediate reopening of the waterway and warned that the strait will remain closed unless the US ends the war, raising uncertainty over when supply conditions will improve. Continued restrictions in the strait have disrupted LNG flows from the Persian Gulf, causing severe delays to shipments from major exporter Qatar. At the same time, extreme summer heat has boosted demand for gas-fired power generation, leaving European gas storage just 63% full, the lowest level for this time of year since 2009. As a result, prices are likely to remain volatile, particularly if supply disruptions persist into the heating season.
2026-08-27
UK Natural Gas Prices Drop Further
UK natural gas prices fell below 160 pence per therm on Wednesday, extending losses from the previous session as signs of progress in Middle East negotiations eased concerns over further supply disruptions. Iran’s and Oman’s foreign ministers said that they discussed plans for a temporary transit corridor through the Strait of Hormuz, along with a project to clear mines from the waterway. Pakistan also reported significant progress in talks with Tehran aimed at ending the war. The US decision to return diplomats to the Middle East also allayed fears of a further escalation in the conflict. However, supply risks remain as the ongoing maritime blockade continues to disrupt physical LNG flows from the Persian Gulf, with shipments from major exporter Qatar facing severe delays. Persistent hot weather across Europe is also driving higher electricity demand for cooling, slowing the pace of seasonal gas storage injections.
2026-08-26