FX.co ★ UK Natural Gas Prices Drop to Over 2-Week Low

UK natural gas futures declined to about 113.6 pence per therm, the lowest level in more than two weeks, as traders weighed mixed signals over a potential US–Iran agreement. The US military reportedly launched new strikes on Iranian targets near the Strait of Hormuz, which a spokesperson characterized as self-defense. US Secretary of State Marco Rubio said negotiations would take several days as both sides work through the wording of an initial document. Earlier, President Donald Trump said talks were “proceeding nicely,” while warning of further attacks if they failed. Although most gas exported from the Persian Gulf is destined for Asian markets, the disruption has tightened global supply and intensified competition, heightening concerns in Europe as the region moves to rebuild inventories ahead of next winter.