UK natural gas futures fell to around 113 pence per therm on Friday, sliding to their lowest level in more than five weeks as markets looked ahead to planned US–Iran talks this weekend amid a fragile ceasefire. President Donald Trump expressed optimism about securing an agreement to end the six-week conflict, but later warned Tehran over its move to impose transit fees on vessels passing through the Strait of Hormuz.
At the same time, Qatar has reportedly begun preparations to restart LNG production at Ras Laffan following the ceasefire announcement. The facility has been offline since early March after being hit by Iranian missiles. Although partial output may resume in the coming days, a full recovery will depend on the restoration of secure passage through the Strait.
