FX.co ★ UK Natgas Prices Rise Over 3%

UK natural gas futures climbed more than 3% to above 118 pence per therm as renewed fighting in the Middle East and stalled diplomatic efforts unsettled energy markets. The US military reported that Iran launched several ballistic missiles at neighboring countries, but none reached their targets, with American and allied forces intercepting missiles aimed at Kuwait and Bahrain. In response, the US struck an Iranian military ground control facility on Qeshm Island. The latest flare-up coincides with continued Israeli strikes in Lebanon. Although Iran has asserted that negotiations are deadlocked, President Trump maintains that talks are still in progress. The absence of tangible diplomatic progress has intensified concerns that disruptions to energy shipments from the Persian Gulf could persist. With European gas storage only 38% full, any prolonged interruption in supply further complicates efforts to rebuild inventories ahead of next winter.