UK Gas Prices Hold at Over 3-Month High

2026-07-16 06:25 By Judith Sib-at 1 min. read

UK natural gas prices hovered around 130.6 pence per therm on Thursday, remaining at a more than three-month high, as continued US attacks on Iran heightened concerns over LNG flows from the region.

Following the reimposition of its naval blockade, the US launched another round of strikes targeting Iran’s coastal defenses and missile sites, and said it had fired on an empty oil tanker en route to an Iranian port.

Tehran responded by warning that it could disrupt additional regional energy exports, describing the conflict as an “existential war” with the US.

The latest escalation comes at a particularly sensitive time for Europe, which is in the process of refilling its gas storage facilities ahead of winter.

Any prolonged disruption to LNG exports from the region could tighten global supplies, potentially forcing European buyers into more intense and costly competition with Asian importers for available cargoes.



News Stream
UK Gas Prices Hold at Over 3-Month High
UK natural gas prices hovered around 130.6 pence per therm on Thursday, remaining at a more than three-month high, as continued US attacks on Iran heightened concerns over LNG flows from the region. Following the reimposition of its naval blockade, the US launched another round of strikes targeting Iran’s coastal defenses and missile sites, and said it had fired on an empty oil tanker en route to an Iranian port. Tehran responded by warning that it could disrupt additional regional energy exports, describing the conflict as an “existential war” with the US. The latest escalation comes at a particularly sensitive time for Europe, which is in the process of refilling its gas storage facilities ahead of winter. Any prolonged disruption to LNG exports from the region could tighten global supplies, potentially forcing European buyers into more intense and costly competition with Asian importers for available cargoes.
2026-07-16
UK Gas Prices Extend Gains
UK natural gas prices climbed past 130 pence per therm on Wednesday, the highest level in more than three months, as escalating tensions in the Middle East heightened concerns over LNG supplies. President Donald Trump warned that the US would target Iranian bridges and power infrastructure next week unless Tehran returns to negotiations. His warning came as US forces launched strikes on Iran for a fourth consecutive day and resumed a blockade of Iranian ports. Meanwhile, Trump backed away from an earlier threat to impose a 20% "security" fee on ships transiting the Strait of Hormuz, saying it would instead be replaced by Gulf state investments in the US. Concerns remain focused on Qatar, the region’s leading LNG exporter, as renewed disruptions to exports from the Ras Laffan complex could further tighten global LNG supply and complicate Europe's efforts to rebuild gas inventories ahead of winter.
2026-07-15
UK Gas Prices Climb to Over 3-Month High
UK natural gas prices rose to around 128 pence per therm on Tuesday, hitting their highest level in more than three months after President Donald Trump reimposed a US blockade on Iranian ports and announced a 20% security fee on all cargo shipped through the Strait of Hormuz. The blockade is scheduled to take effect at 4:00 p.m. EDT on Tuesday, dampening expectations for a near-term normalization of shipping activity through the vital waterway. LNG exports from the Middle East had only recently begun to recover, with Qatar ramping up production and shipments following the US-Iran interim agreement in June. However, the renewed hostilities have abruptly halted that recovery, raising concerns over fresh disruptions to LNG exports from the region. Such disruptions could tighten global gas supplies just as Europe is racing to refill storage facilities ahead of next winter.
2026-07-14