29.04.202607:50:19UTC+00UK Natural Gas Prices Rise

UK natural gas futures climbed toward 109 pence per therm on Wednesday, snapping a two-day losing streak, after reports that President Donald Trump instructed his aides to prepare for a prolonged blockade of Iran. According to those reports, Trump intends to maintain maximum pressure on Tehran until it agrees to the United States’ core demand to halt all nuclear activities.

The move follows Iran’s submission of a new proposal to Washington, aimed at reopening the Strait of Hormuz and resolving the conflict, while deferring any nuclear negotiations to a later stage. The crucial shipping corridor remains largely shut, continuing to constrain flows that account for roughly one-fifth of global LNG supply.

At the same time, weaker demand from Asia has eased pressure on European gas markets by reducing competition for LNG cargoes. National Gas also indicated that the UK is expected to have sufficient supply to cover summer demand and could even permit some exports to continental Europe.