UK Gas Prices Advance

UK natural gas prices rose above 143 pence per therm on Wednesday after a two-day decline, as renewed hostilities in the Middle East heightened concerns over prolonged supply disruptions. The US military said on Tuesday it had intercepted multiple missiles launched by Iran, ending a days-long lull in fighting between the two sides. Both nations had largely held fire over the weekend following nearly two weeks of nightly US strikes on Iran and repeated attacks by Tehran targeting Washington’s allies across the Gulf. The latest escalation worsens Europe’s gas supply outlook as the region races to replenish storage ahead of the winter. Supply concerns were further exacerbated by reports that QatarEnergy, one of the world’s largest LNG exporters, has extended its force majeure for European buyers until at least the end of September.





