UK Natural Gas Prices Advance

2026-08-10 07:01 By Judith Sib-at 1 min. read

UK natural gas prices rose above 142 pence per therm on Monday, recovering most of the previous week’s losses week amid uncertainty over the normalization of shipping through the Strait of Hormuz.

Iran and Oman remained short of a final agreement over the weekend after Tehran renewed a lengthy list of demands for Washington as conditions for a full reopening of the strategic waterway, indicating any immediate relief for gas supplies could remain limited.

Although Iran indicated that a deal was close, it cautioned that this did not mean the strait would reopen imminently, while again ruling out any direct negotiations with the US.

With a deal still elusive, disruptions to LNG shipments through the key waterway are likely to persist, delaying cargoes from major exporters such as Qatar.

The ongoing delays have kept global supply balances tight, intensifying competition with Asian buyers for available cargoes and hampering Europe's winter stockpiling efforts.



News Stream
UK Natural Gas Prices Advance
UK natural gas prices rose above 142 pence per therm on Monday, recovering most of the previous week’s losses week amid uncertainty over the normalization of shipping through the Strait of Hormuz. Iran and Oman remained short of a final agreement over the weekend after Tehran renewed a lengthy list of demands for Washington as conditions for a full reopening of the strategic waterway, indicating any immediate relief for gas supplies could remain limited. Although Iran indicated that a deal was close, it cautioned that this did not mean the strait would reopen imminently, while again ruling out any direct negotiations with the US. With a deal still elusive, disruptions to LNG shipments through the key waterway are likely to persist, delaying cargoes from major exporters such as Qatar. The ongoing delays have kept global supply balances tight, intensifying competition with Asian buyers for available cargoes and hampering Europe's winter stockpiling efforts.
2026-08-10
UK Natural Gas Rises Further
UK natural gas prices rose further to 140 pence per therm on Friday, recovering most of the losses recorded earlier in the week as renewed tensions in the Strait of Hormuz heightened uncertainty over the resumption of LNG flows from the Persian Gulf. Iranian state media reported that naval forces had carried out an operation against “hostile targets” near the strait following explosions heard on Qeshm Island. Tehran is also reportedly seeking to restrict US and Israeli vessels from transiting the waterway under a proposed agreement with Oman, while demanding compensation from countries it views as hostile before allowing passage. Ongoing disruptions to LNG shipments from key exporters such as Qatar have kept global supply conditions tight, intensifying competition with Asian buyers for available cargoes and complicating Europe’s efforts to rebuild gas inventories ahead of winter.
2026-08-07
UK Natural Gas Prices Rebound
UK natural gas prices rose toward 131 pence per therm on Thursday, rebounding from a three-week low amid persistent concerns over the outlook for gas supplies. While risk premiums eased after Iran announced it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, LNG supply risks remained elevated. Gas shipments through the key waterway continue to face significant disruptions, delaying cargoes from major exporters such as Qatar. These delays have complicated Europe's winter stockpiling efforts, while strong competition from Asian buyers has further tightened LNG availability. At the same time, unusually hot weather across central and southern Europe has added to market pressures by increasing electricity demand for air conditioning. EU gas storage facilities are currently just under 58% full, the lowest seasonal level in nearly two decades for this time of year.
2026-08-06