UK Natural Gas

UK natural gas futures were trading around the 170 pence a therm mark, close to levels not seen since June and down roughly 80% from their March peak of 800 pence, as milder-than-normal temperatures across much of the UK and Europe limited heating demand. On top of that, households and businesses have been cutting their energy usage after a warning from National Grid in October about supply shortages in case of an extreme winter. Still, London temperatures are forecasted to fall to near average this week, which, in turn, will boost demand for heating. On the supply side, the US has agreed to increase natural gas exports to the UK as part of a joint effort to reduce costs and limit Russia's impact on western energy supplies.

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 January of 2023.

UK Natural Gas is expected to trade at 195.31 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 294.87 in 12 months time.