UK Natural Gas Futures Stay High on Hormuz Disruptions

2026-05-04 10:53 By Agna Gabriel 1 min. read

UK natural gas futures traded around 112 pence per therm, staying elevated after two weeks of gains driven by ongoing disruptions linked to the Middle East conflict.

Donald Trump said the US would begin guiding neutral vessels through the Strait of Hormuz, which has been effectively closed since late February and has disrupted around a fifth of global LNG flows.

However, traders remain cautious about the practicality of the plan following recent security incidents near Fujairah.

UK gas prices are up about 40% since the conflict began as tighter supply increased competition for cargoes, although they have eased from earlier highs as some Asian buyers scaled back imports.

Weather outlooks for May point to more volatile conditions across Europe, with alternating storms and warmer spells that could increase cooling demand.



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