FX.co ★ UK Gas Prices Extend Gains

UK natural gas prices rose above 130 pence per therm on Wednesday, the highest level in more than three months, as escalating tensions in the Middle East intensified concerns about LNG supply. President Donald Trump warned that the US would target Iranian bridges and power infrastructure next week unless Tehran returns to negotiations. His warning came as US forces carried out strikes on Iran for a fourth straight day and reinstated a blockade of Iranian ports. At the same time, Trump stepped back from an earlier threat to impose a 20% “security” fee on ships passing through the Strait of Hormuz, saying the measure would instead be replaced by investment from Gulf states in the US. Market attention remains fixed on Qatar, the region’s leading LNG exporter, amid fears that renewed disruptions to shipments from the Ras Laffan complex could further tighten global LNG supply and complicate Europe’s efforts to rebuild gas inventories ahead of winter.