UK Natural Gas Prices Extend Decline

UK natural gas prices dropped to 211 pence per therm on Thursday, extending their losses to more than 18% so far this week and hovering at their lowest level in over two weeks.

The decline reflects growing optimism over diplomatic efforts to resolve the US-Iran war, with Qatar continuing to mediate between the two sides.

A sweeping Democratic victory in the US midterm elections also eased concerns about further military escalation, as the results could give Democrats greater influence over government spending, potentially limiting President Trump’s ability to sustain military operations against Iran.

The UK gas market remains vulnerable to fuel price volatility stemming from the war, while falling domestic production is further increasing its reliance on Norwegian pipeline supplies and global LNG imports.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →