UK Natural Gas Futures Rebound on Thursday

2026-03-05 11:57 By Agna Gabriel 1 min. read

UK natural gas futures rebounded to around 135 pence per therm on Thursday, recovering from a roughly 10% drop in the previous session after Vladimir Putin warned that Russia could cut gas supplies to Europe.

Although Russian pipeline deliveries to the region have already declined sharply since the war in Ukraine, Russia is still estimated to supply about 13% of the bloc’s gas needs in 2025.

A potential halt would add pressure to an already fragile energy balance, especially as Middle East tensions continue to threaten global energy flows.

The world’s largest LNG facility in Qatar remains shut, while the strategic Strait of Hormuz is still largely closed.

The UK is particularly vulnerable due to limited storage capacity and heavy reliance on imports, with inventories below 30% at the end of February.

Prices had fallen the previous day after reports that Iran had contacted the US about possible negotiations to end the conflict, although Tehran later denied the claim.



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