According to an article in Daily Mail, Britain is on the brink of a gas shortage, with just two days’ supply in storage. Liquefied natural gas (LNG) reserves are also quite limited. The crisis is worsened by the Middle East conflict: Iran has closed the strategic Strait of Hormuz, through which around 20% of the world’s gas and oil flows, and Qatar suspended operations at Ras Laffan—the world’s largest gas facility—after attacks.

Low reserves leave the UK more vulnerable than EU countries, which have several weeks of gas stored — not much either but supposedly enough to handle supply disruptions. Traders are exploiting Britain’s position, forcing the country to pay Europe’s highest wholesale gas prices. This exposure could intensify if cold weather drives higher demand.

Oil prices are also surging: U.S. crude has surpassed $90 per barrel, Brent sits around $92, and analysts warn prices could reach $100–$150 if the conflict continues. The situation threatens UK households with higher energy bills from July, rising mortgage rates, and broader cost increases due to supply chain disruptions. Energy infrastructure has become a primary target in the conflict, with strikes on Iranian oil facilities creating massive fires and further destabilizing global energy markets.

Britain’s combination of depleted domestic gas storage, dependence on imports, and ongoing Middle East disruptions has made it particularly exposed to immediate and severe energy price shocks.

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