UK Natural Gas Futures Drop from 7-Month High

2026-01-19 16:31 By Agna Gabriel 1 min. read

UK natural gas futures slipped below 91 pence a therm, after a surge of more than 32% last week that pushed prices to a near seven-month high of 96.8 pence, as forecasts for this week have been revised warmer than previously expected, easing immediate heating demand.

Also, wind power output is expected to run above seasonal norms, reducing the need for gas-fired generation and limiting demand in the power sector.

Despite the short-term easing, the broader supply backdrop remains tight.

The UK relies heavily on imports due to limited gas storage capacity, making prices sensitive to changes in global supply and demand.

In continental Europe, storage sites are around 50.4% full, well below roughly 61.7% at the same time last year, reducing flexibility during winter.

At the same time, parts of Asia are preparing for a cold wave, which could lift heating demand there and intensify competition for LNG cargoes.



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