17.04.202606:48:14UTC+00UK Natural Gas Prices Remain Near 6-Week Lows

UK natural gas futures held around 106 pence per therm, hovering near their lowest level in more than six weeks, as optimism grew over a potential resolution to the conflict in the Middle East. President Donald Trump expressed confidence that a peace deal with Iran was within reach and announced that Lebanon and Israel had agreed to a 10-day ceasefire. These developments eased concerns over energy supply, particularly given the ongoing closure of the Strait of Hormuz.

Even so, traders warned that supply risks have not been fully eliminated and emphasized that the recent price decline has been driven largely by weaker demand from Asia, which has reduced competition for LNG cargoes. Meanwhile, National Gas, the UK gas system operator, indicated that domestic gas storage levels should be sufficient to meet summer demand and may even support some exports to mainland Europe.