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.



News Stream
UK Natural Gas Futures Rebound on Thursday
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.
2026-03-05
UK Natural Gas Futures Fall after 70% Rally
UK natural gas futures fell more than 9% toward 128 pence per therm on Wednesday, following a nearly 70% surge over the previous two sessions, mirroring declines in the European benchmark after reports that Iran may be open to talks to end the Middle East conflict. The UK remains highly exposed due to limited storage and heavy import dependence, with inventories below 30% at the end of February. While Iranian operatives reportedly reached out to the US to discuss terms, officials remain skeptical of a short-term resolution. The conflict has already disrupted major energy infrastructure, including the world’s largest LNG plant in Qatar, and the Strait of Hormuz remains largely closed, fueling fears of a global supply squeeze. European supplies have not yet been directly affected, as shipments scheduled for March are already en route. Also, President Donald Trump said the US would ensure vessels and provide naval escorts if needed.
2026-03-04
UK Natural Gas Futures Surge to 3-Year High
UK natural gas futures surged 26% to above 143 pence per therm on Tuesday, the highest since January 2023, after Qatar halted LNG output at its Ras Laffan complex following an Iranian drone strike. The shutdown of a facility responsible for roughly one-fifth of global LNG supply sent shockwaves through energy markets and extended the previous session’s 45% rally. The UK is particularly exposed due to limited storage capacity and heavy reliance on imports, with domestic inventories below 30% at the end of February. Flows through the Strait of Hormuz had already slowed, raising concerns over broader Middle East disruptions. Although most Qatari LNG goes to Asia, any prolonged outage is likely to intensify global competition for cargoes and lift prices in Europe as it seeks to rebuild low inventories ahead of winter.
2026-03-03