UK Natgas Prices Down 5% in Oil & Companies News 12/06/2026 UK natural gas prices dropped more than 5% to around 113 pence per therm, hitting a two-week low, after President Donald Trump indicated that a US–Iran deal was close. He also said planned US military strikes against Iran had been cancelled, noting that talks with Tehran had been elevated to the highest levels of Iranian leadership and received approval. Still, uncertainty persisted as Iran has yet to confirm. The comments came against a backdrop of earlier Trump threats to seize Iranian energy infrastructure, as well as an escalation in US–Iran hostilities earlier in the week. The lack of a material agreement continued to fuel concerns over prolonged supply disruptions through the Strait of Hormuz, which handles around one-fifth of global LNG supplies. This could intensify competition for LNG cargoes, intensifying worries in Europe as the region races to secure fuel this summer to refill its tanks before next winter. Source: Trading Economics 2026-06-12 hellenicshippingnews... tweet Share