UK Natural Gas Prices Hit 3-Week High

2026-08-14 07:18 By Judith Sib-at 1 min. read

UK natural gas prices rose above 151 pence a therm on Friday, the highest in three weeks, amid persistent concerns over Europe’s gas supply security ahead of winter.

The US on Thursday threatened to keep its naval blockade of Iran indefinitely and vowed to step up economic pressure on the country as ceasefire talks stalled.

The standoff has heightened uncertainty around the Strait of Hormuz, with both sides making competing claims of control over the strategic waterway.

The disruption has severely delayed LNG cargoes from Qatar, forcing European buyers to compete aggressively with Asian importers for limited supplies.

This is making it harder and more costly for Europe to rebuild gas inventories before winter, with storage facilities currently only 59% full, below historical averages.

Meanwhile, heatwaves across Southern and Central Europe have boosted gas-fired power generation to meet cooling demand, diverting supplies from storage.

UK gas prices have risen over 11% this week.



News Stream
UK Natural Gas Prices Hit 3-Week High
UK natural gas prices rose above 151 pence a therm on Friday, the highest in three weeks, amid persistent concerns over Europe’s gas supply security ahead of winter. The US on Thursday threatened to keep its naval blockade of Iran indefinitely and vowed to step up economic pressure on the country as ceasefire talks stalled. The standoff has heightened uncertainty around the Strait of Hormuz, with both sides making competing claims of control over the strategic waterway. The disruption has severely delayed LNG cargoes from Qatar, forcing European buyers to compete aggressively with Asian importers for limited supplies. This is making it harder and more costly for Europe to rebuild gas inventories before winter, with storage facilities currently only 59% full, below historical averages. Meanwhile, heatwaves across Southern and Central Europe have boosted gas-fired power generation to meet cooling demand, diverting supplies from storage. UK gas prices have risen over 11% this week.
2026-08-14
UK Natural Gas Dips
UK natural gas prices fell to 145 pence a therm on Thursday but remained more than 8% higher so far this week, as supply concerns persisted amid uncertainty over efforts to resolve the Middle East conflict and reopen the Strait of Hormuz. Talks between the US and Iran appear to have hit an impasse, with both sides taking a firmer stance and President Trump insisting that Washington has full control of the key waterway and intends to keep it that way. Shipping disruptions have sharply curtailed LNG flows from the Gulf, significantly delaying cargoes from major exporter Qatar and making it difficult for Europe to rebuild gas inventories ahead of winter. Analysts anticipate European gas prices will maintain a firm floor until storage levels show clearer signs of building before the heating season begins. At the same time, intense summer heatwaves across Southern and Central Europe have ramped up gas-fired power generation to meet cooling needs, diverting supplies from storage.
2026-08-13
UK Natural Gas Prices Rebound
UK natural gas prices rose toward 149 pence a therm on Wednesday, rebounding from the previous session’s losses, as doubts grew over the likelihood of an agreement to resume energy flows through the Strait of Hormuz. Supply concerns persisted despite Pakistan’s defense minister saying that the US and Iran were “close to some sort of arrangement” over the waterway, while negotiations between Tehran and Oman were also reportedly making significant progress. Both Washington and Tehran had taken a firmer stance, clouding prospects for a swift reopening of the strait. The ongoing disruption to shipping has severely constrained LNG shipments, with cargoes from major exporter Qatar significantly delayed. Analysts expect European gas prices to maintain a firm floor until storage levels show clearer signs of building ahead of the heating season. Hot weather across Europe is also boosting electricity demand for cooling, adding further pressure to the market.
2026-08-12