UK natural gas futures fell more than 12% to below 83 pence a therm, retreating from a ten-month high of 103.7 hit on January 21, as concerns over LNG supply eased. Near term US weather forecasts turned milder, reducing heating demand and allowing more gas to flow to LNG export plants, improving the outlook for deliveries to Europe and the UK. The UK remains highly sensitive due to limited storage capacity and heavy reliance on imports, making it vulnerable to regional and global supply pressures. Geopolitical risk premiums also faded after US President Donald Trump said Washington is in talks with Iran, easing fears of disruptions to shipping through the Strait of Hormuz. Still, underlying vulnerability remains, with EU gas storage at just 41.1% full and UK storage around 36.9%.

UK Gas fell to 77.23 GBp/thm on February 3, 2026, down 5.05% from the previous day. Over the past month, UK Gas's price has risen 9.02%, but it is still 39.96% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, UK Natural Gas reached an all time high of 800 in March of 2022. UK Natural Gas - data, forecasts, historical chart - was last updated on February 3 of 2026.

UK Gas fell to 77.23 GBp/thm on February 3, 2026, down 5.05% from the previous day. Over the past month, UK Gas's price has risen 9.02%, but it is still 39.96% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas is expected to trade at 96.49 GBp/Thm by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 109.53 in 12 months time.



Price Day Month Year Date
Crude Oil 61.36 -0.784 -1.26% 5.21% -15.60% Feb/03
Brent 65.47 -0.829 -1.25% 6.01% -14.08% Feb/03
Natural gas 3.20 -0.0355 -1.10% -9.13% -1.58% Feb/03
Gasoline 1.84 -0.0090 -0.49% 6.98% -12.30% Feb/03
Heating Oil 2.34 -0.0214 -0.91% 9.13% -3.78% Feb/03
TTF Gas 32.07 -1.27 -3.81% 17.05% -38.72% Feb/03
UK Gas 76.76 -4.5789 -5.63% 8.36% -40.32% Feb/03
Ethanol 1.58 -0.0075 -0.47% -2.01% -11.22% Feb/02
Naphtha 541.26 -20.09 -3.58% 9.57% -15.62% Feb/02
Propane 0.63 -0.03 -4.16% 0.93% -30.41% Feb/02
Uranium 96.50 -2.7500 -2.77% 17.68% 32.55% Feb/02
Methanol 2,221.00 11.00 0.50% 1.37% -14.90% Feb/03


UK Natural Gas
UK Natural Gas Futures is a national benchmark price. Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the National Balancing Point (NBP) Virtual Trading Point, operated by National Grid, the transmissions system operator in the UK. Delivery is made equally each day throughout the delivery period. Futures are available for trading in the Intercontinental Exchange Inc. (ICE). Our natural gas market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
77.23 81.34 800.00 0.11 1997 - 2026 GBp/Thm Daily

News Stream
UK Natural Gas Futures Fall from 10-Month High
UK natural gas futures fell more than 12% to below 83 pence a therm, retreating from a ten-month high of 103.7 hit on January 21, as concerns over LNG supply eased. Near term US weather forecasts turned milder, reducing heating demand and allowing more gas to flow to LNG export plants, improving the outlook for deliveries to Europe and the UK. The UK remains highly sensitive due to limited storage capacity and heavy reliance on imports, making it vulnerable to regional and global supply pressures. Geopolitical risk premiums also faded after US President Donald Trump said Washington is in talks with Iran, easing fears of disruptions to shipping through the Strait of Hormuz. Still, underlying vulnerability remains, with EU gas storage at just 41.1% full and UK storage around 36.9%.
2026-02-02
UK Natural Gas Futures Hover Below 10-Month High
UK natural gas futures traded around 94 pence per therm, down from a ten-month high of 103.7 reached on January 21, as rising US LNG flows eased supply concerns. The UK remains vulnerable due to limited storage and heavy reliance on imports, while across Europe inventories are near multi-year lows at about 43% full. UK storage stands at 38.5%, with Storengy UK at 24.3%, Humbly Grove Energy at 27.7% and Uniper Energy Storage at 73.7%. Geopolitical risks continue to underpin market caution after US President Donald Trump’s threats against Iran, with potential retaliation threatening crude and LNG shipments through the Strait of Hormuz, a key passage for tankers. Qatar, the world’s second-largest LNG exporter, relies on the strait for around 19% of global LNG exports.
2026-01-30
UK Natural Gas Fall from 10-Month High
UK natural gas futures fell to below 100 pence per therm, retreating from a ten-month high of 104.7 hit on January 23, as markets weighed the pace of US production recovery and the potential for further extreme cold. In the US, warmer forecasts and the gradual return of frozen wells have slightly increased output, while flows to LNG export plants remain low. The UK remains highly sensitive due to limited storage capacity and heavy reliance on imports, leaving it vulnerable to regional and global supply pressures. Across Europe, rapid withdrawals have pushed stockpiles below 45% full, compared with roughly 56.2% a year ago. In the UK, storage is around 40% full, with Storengy UK at 24.3%, Humbly Grove Energy at 33%, and Uniper Energy Storage Ltd at 73.7%.
2026-01-27