UK Natgas Prices Surge as Supply Concerns Persist

UK natural gas prices have risen to levels near their 2022 highs as concerns over supply persist ahead of the winter heating season.

The price of UK natgas has returned above 203 pence per therm, after falling in the previous session, and military tensions have hindered Qatari LNG export flows through the Strait of Hormuz, severely restricting supplies to Europe.

European gas storage facilities are around 68% full, below the seasonal average at a time when they would typically be nearing maximum capacity.

JERA Global CEO Yukio Kani warned that Europe's low inventories leave the region vulnerable to prolonged disruptions and stronger competition for LNG cargoes.