FX.co ★ UK Natural Gas Prices Jump

UK natural gas futures surged more than 7% toward 118 pence per therm on Monday, rebounding from a five-week low, after President Donald Trump ordered a blockade of the Strait of Hormuz following the collapse of peace talks with Iran. The US military said it would begin blocking all Iranian ports at 1400 GMT on Monday, while allowing vessels not bound to or from Iran to continue transiting the strait. Trump also stated that the US would intercept ships that have paid Iran tolls for safe passage through the strait. In addition, reports suggested that Washington is weighing fresh military strikes against Iran, threatening a two-week ceasefire agreed only last week. These developments have heightened concerns that LNG flows through the Strait of Hormuz—responsible for roughly one-fifth of global supply—could face prolonged disruption.