UK Natgas Prices Rise Further as Middle East Hostilities Continue

2026-09-09 07:06 By Judith Sib-at 1 min. read

UK natural gas prices rose toward 198 pence per therm on Wednesday, marking a fourth session of gains and reaching their highest level since December 2022, as continuing strikes in the Middle East heightened concerns over further supply disruptions.

The US military said it destroyed five Iranian oil tankers near Kharg Island on Tuesday in response to attacks on its warships, while Tehran retaliated against US targets in Jordan.

Iran-backed Houthi militants in Yemen also launched drones and missiles at energy facilities in southern Saudi Arabia.

These underscored mounting challenges to restoring normal traffic through the Strait of Hormuz.

The sustained disruptions have forced Qatar to suspend shipments and extend force majeure on cargoes to Europe and Asia through autumn.

The reduced LNG deliveries have slowed European storage injections, with gas inventories remaining below the seasonal average, leaving the market increasingly vulnerable as the winter heating season approaches.



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