UK Natural Gas Futures Rise to 10-Month High

2026-01-23 17:05 By Agna Gabriel 1 min. read

UK natural gas futures rebounded to 104 pence a therm, the highest since March 2025, as the market tracked tight European supplies and rising demand.

The UK remains highly sensitive due to limited storage capacity and heavy reliance on imports, making it vulnerable to regional and global supply pressures.

Across Europe, gas withdrawals in January have run at the fastest pace in five years amid unusually cold weather, while LNG imports remain less than half that level.

Rapid drawdowns have left stockpiles at about 47.6% full, well below roughly 58.4% a year ago, tightening the supply outlook ahead of another expected cold spell.

Prices were further supported as US gas flows were diverted from LNG export facilities to meet strong domestic demand during an Arctic blast, while colder conditions in Asia intensified competition for LNG cargoes.



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