Commodities
UK Gas Prices Near Two-Week Highs Amid Iran Blockade Uncertainty
UK natural gas prices remain near their highest levels in over two weeks, hovering at 148.4 pence per therm on Friday.
The current price is a result of persistent concerns over Europe's gas supply security ahead of winter.
The US has threatened to maintain its naval blockade of Iran indefinitely, putting pressure on Tehran as ceasefire talks have stalled.
This standoff has heightened uncertainty around the Strait of Hormuz and disrupted LNG cargoes from Qatar, forcing European buyers to compete aggressively with Asian importers for limited supplies.