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The Independent UK
The Independent UK
National
Karl Matchett

UK gas prices continue to surge amid Middle East conflict

United Kingdom Gas Prices
  • UK natural gas prices surged by almost a quarter following recent attacks by Iran on a gas hub in Qatar, raising concerns about global supply disruptions.
  • Natural gas futures rocketed to 174 pence per Therm on Thursday, a 24 per cent increase, after trading between 125 and 132 pence earlier in the week.
  • Britain imports a significant amount of its natural gas, and Europe's reserves are expected to be lower than usual after a cold winter.
  • Chris Bryant, Minister of State for Trade, described the situation as a 'really big moment for the UK economy' and urged a push towards green energy to reduce reliance on volatile fossil fuel prices.
  • The Common Wealth thinktank suggested UK household energy bills could decrease by £200 if gas no longer set electricity market prices, while Donald Trump commented on the escalating conflict.

IN FULL

UK gas prices surge by 25% overnight after strikes in Qatar

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