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Commodities

UK Gas Prices Soar Amid Renewed Iran-US Tensions

Guavy AI Editorial Team
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Natural Gas
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UK natural gas prices have rebounded past 143 pence per therm on Tuesday as uncertainty persists over renewed US-Iran diplomacy. President Trump stated that talks were underway, warning Iran it had a last chance to reach a deal and avoid large-scale air strikes.

Tehran denied holding talks with Washington, but confirmed discussions with Oman to ensure safe passage through the Hormuz waterway are progressing.

An attack on a commercial vessel in the waterway has highlighted ongoing security risks, disrupting roughly one-fifth of global LNG supply and intensifying competition between European and Asian buyers for cargoes.

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