UK Natgas Prices Fall as Traders Monitor Middle East Diplomacy

2026-09-21 06:53 By Judith Sib-at 1 min. read

UK natural gas prices dropped below 190 pence per therm on Monday, reversing the previous session’s gains as traders monitored diplomatic efforts to end the Middle East conflict.

President Donald Trump said he would probably be open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the UN General Assembly later this week, though Tehran has yet to respond to the remarks.

Any progress toward de-escalation could ease concerns over prolonged LNG supply disruptions.

However, supply risks remain elevated, with the conflict continuing to restrict LNG shipments through the Strait of Hormuz.

European gas storage facilities were around 68.5% full, still below the seasonal average.

The situation is further complicated by intense competition with Asia and ongoing maintenance work on Norway’s gas infrastructure.

With the heating season approaching, the market remains highly sensitive to extended supply disruptions, increasing the risk of price volatility.



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UK Natgas Prices Fall as Traders Monitor Middle East Diplomacy
UK natural gas prices dropped below 190 pence per therm on Monday, reversing the previous session’s gains as traders monitored diplomatic efforts to end the Middle East conflict. President Donald Trump said he would probably be open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the UN General Assembly later this week, though Tehran has yet to respond to the remarks. Any progress toward de-escalation could ease concerns over prolonged LNG supply disruptions. However, supply risks remain elevated, with the conflict continuing to restrict LNG shipments through the Strait of Hormuz. European gas storage facilities were around 68.5% full, still below the seasonal average. The situation is further complicated by intense competition with Asia and ongoing maintenance work on Norway’s gas infrastructure. With the heating season approaching, the market remains highly sensitive to extended supply disruptions, increasing the risk of price volatility.
2026-09-21
UK Natural Gas Prices Rebound
UK natural gas prices rose to 198 pence per therm on Friday, rebounding after three straight sessions of declines, with depleted reserves and disruptions to LNG shipments remaining in focus. The region is entering winter with low storage levels as the US-Iran war severely curtailed LNG supplies from the Persian Gulf and record summer heatwaves hampered efforts to rebuild inventories. Underground storage facilities were only around 68% full, well below seasonal averages and the EU’s target of 80% capacity by December. Strong demand from Asia and other buyers could also drive more intense competition for LNG cargoes when colder weather sets in, leaving the region more exposed to price spikes. Despite Friday’s gain, UK gas prices have fallen more than 2% this week, their first weekly decline in six.
2026-09-18
UK Natgas Prices Steady as Traders Assess Supply Outlook
UK natural gas prices steadied at 194 pence per therm on Thursday, not far from a more than three-and-a-half-year high, as traders assessed the region’s gas supply outlook. Europe is heading into winter with gas storage levels among the lowest seen in two decades, with underground sites only about 68% full, as sustained disruptions to LNG supplies from the Persian Gulf and record summer heatwaves have severely constrained efforts to replenish reserves. This has raised concerns about whether gas supplies will be sufficient during the heating season. Strong demand from Asia and other buyers could also drive more intense competition for LNG cargoes when colder weather sets in. Meanwhile, investors are watching for clearer signals on Germany’s gas purchasing plans, with any increase in buying potentially providing further support to prices amid tight global supplies.
2026-09-17