UK Natgas Prices Rebound from 2-Week Low

2026-05-08 07:10 By Judith Sib-at 1 min. read

UK natural gas futures rose to 109 pence per therm, recovering from a two-week low as prospects for peace in the Middle East remained uncertain amid renewed tensions.

The US military launched strikes on Iranian military targets on Thursday in response to attacks on its three destroyers in the Strait of Hormuz.

Meanwhile, President Trump said the ceasefire remains in place despite the strikes, while Iranian TV reported that the situation is “back to normal,” providing some relief.

These developments come as the US seeks to de-escalate tensions, while also awaiting Iran’s response to a proposal to reopen the strategic waterway.

The near-closure of the strait has disrupted around one-fifth of global LNG supply, with the route facing restrictions from both sides.

Although most gas from the Persian Gulf goes to Asia, the disruption has tightened global supply and intensified competition, fueling concerns in Europe as the region needs to replenish inventories before next winter.



News Stream
UK Natgas Prices Rebound from 2-Week Low
UK natural gas futures rose to 109 pence per therm, recovering from a two-week low as prospects for peace in the Middle East remained uncertain amid renewed tensions. The US military launched strikes on Iranian military targets on Thursday in response to attacks on its three destroyers in the Strait of Hormuz. Meanwhile, President Trump said the ceasefire remains in place despite the strikes, while Iranian TV reported that the situation is “back to normal,” providing some relief. These developments come as the US seeks to de-escalate tensions, while also awaiting Iran’s response to a proposal to reopen the strategic waterway. The near-closure of the strait has disrupted around one-fifth of global LNG supply, with the route facing restrictions from both sides. Although most gas from the Persian Gulf goes to Asia, the disruption has tightened global supply and intensified competition, fueling concerns in Europe as the region needs to replenish inventories before next winter.
2026-05-08
UK Natural Gas Futures Fall to 2-Week Low
UK natural gas futures dropped to around 106.5 pence per therm, the lowest level in two weeks, tracking a broader decline in energy markets as optimism grew over a potential end to the Middle East conflict and a reopening of the Strait of Hormuz. Reports indicated the US and Iran are close to a preliminary agreement that could lead to wider nuclear talks, raising hopes of de escalation and easing supply disruption risks. President Donald Trump also announced a temporary halt to “Project Freedom,” a military operation aimed at securing shipping through the strait, citing progress in negotiations. The conflict and near closure of the key route had removed about a fifth of global LNG supply, pushing UK natural gas prices almost 50% higher. While most Middle East gas flows to Asia, the disruption has tightened global supply and increased competition, leaving Europe on alert as it works to rebuild gas inventories ahead of winter.
2026-05-06
UK Natural Gas Prices Drop from 4-Week High
UK natural gas futures dropped 3% to 111.5 pence per therm, retreating from a four-week high amid hopes of a US-Iran peace agreement that could ease Hormuz disruptions. President Donald Trump said efforts to guide stranded vessels out of the strait would be temporarily paused as part of a push to secure a deal with Iran, but maintained restrictions on Iranian ports. Secretary of State Marco Rubio also stated that the ceasefire remains intact and that the initial US-Israeli offensive in Iran has ended. Meanwhile, Iran denied carrying out attacks in the UAE and warned it would retaliate if Abu Dhabi launches strikes on its territory. UK gas prices have surged more than 50% since the war began, as tighter supply heightened competition for cargoes, though they have eased from earlier peaks as demand from parts of Asia softened. Weather forecasts for May across Europe suggest volatility, with alternating storm systems and warmer spells likely to drive fluctuations in demand.
2026-05-06