UK Natural Gas Bounces Back
UK natural gas prices rose past 143 pence per therm on Tuesday as uncertainty over renewed US-Iran diplomacy remains amid mixed signals from both sides. President Trump said on Monday that talks were underway, warning that Iran had a last chance to reach a deal and avoid large-scale air strikes. Tehran, however, denied holding talks ...
UK natural gas prices surged past 143 pence per therm on Tuesday due to uncertainty surrounding renewed US-Iran diplomatic talks, according to wire service reports. President Trump had suggested on Monday that negotiations were in progress, cautioning that Iran had one final opportunity to reach an agreement and avert large-scale airstrikes.
Tehran, however, denied engaging in discussions with Washington, though it stated that talks with Oman on ensuring safe passage through the strategic Hormuz waterway were making headway. The ongoing conflict has disrupted approximately one-fifth of global liquefied natural gas (LNG) supply, prompting fierce competition between European and Asian buyers for shipments and slowing Europe's gas storage replenishment.
European gas storage levels have plummeted to their lowest point for this time of year in nearly two decades, sparking concerns over the region's gas supply security as the heating season approaches.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
