Trump Threats Drive UK Natural Gas Prices Higher Again

UK natural gas prices have regained their upward momentum, reaching near 157 pence per therm on Thursday. This recovery comes as concerns over global LNG supplies continue to rise due to restrictions on shipping through the Strait of Hormuz.

President Donald Trump's vow to impose 'tremendous punishment' on countries that help or do business with Iran has added to these concerns, putting pressure on Tehran to reopen the critical waterway. The blockade has halted Qatari LNG deliveries, forcing European utilities to compete aggressively for available cargoes.

Reduced LNG inflows and increased cooling demand due to heatwaves have slowed Europe's seasonal gas storage injections, amplifying worries that the continent could enter the winter heating season with insufficient reserves. As a result, natural gas prices remain under upward pressure.