UK Natural Gas Prices Follow TTF Lower

2026-01-22 15:29 By Agna Gabriel 1 min. read

UK natural gas futures fell toward 100 pence a therm, retreating from the ten-month high of 103.7 pence reached on January 21, as prices tracked declines in the European benchmark following an easing of supply disruption fears.

The pullback came as geopolitical risk premiums faded after President Donald Trump said he would refrain from imposing tariffs on European countries opposing his plans to take control of Greenland, reducing concerns over an escalation in US EU trade tensions.

Trump said a framework for a future deal had been discussed after a meeting with NATO Secretary General Mark Rutte, though no details were provided.

Despite the decline, the UK gas market remains highly sensitive due to its limited storage capacity and heavy reliance on imports.

Underlying fundamentals remain tight across the region, with continental European gas storage at about 48.4% full, well below roughly 59.3% at the same time last year, which could limit further downside in prices.



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