UK natural gas futures fell toward 78 pence per therm, the lowest in over eight weeks, as strong supply outweighed rising cooling demand from hotter weather.

Norwegian gas flows increased as maintenance activity eased, boosting supply into the UK and Europe.

While temperatures near 34°C in parts of the UK increase demand for air conditioning, overall gas consumption remains subdued due to weak heating demand and sluggish industrial use.

The UK Met Office warned that temperatures could approach the hottest June day on record.

Meanwhile, geopolitical risk premiums continued to decline after the US-brokered ceasefire between Iran and Israel, easing concerns about LNG supply disruptions through the Strait of Hormuz.