UK Natgas Prices Rise Sharply as Middle East Tensions Persist

AI Summary

UK natural gas prices surged 4% to above 206 pence per therm, reaching the highest level since December 2022 amid ongoing tensions in the Middle East. The temporary closure of a key Saudi oil pipeline after drone attacks and advances by Yemen's Houthis heightened concerns over disruptions to global energy supplies.

UK natural gas prices surged 4% to above 206 pence per therm on Monday, the highest level since December 2022, as tensions in the Middle East persist. Saudi Arabia has temporarily closed a critical oil pipeline after drone attacks, while an advance by Yemen’s Houthis fueled concerns over further disruptions to global energy supplies. Meanwhile, ...