UK and European energy markets opened the week firmer at the prompt even as the geopolitical risk premium began to unwind, with reported progress in US and Iran talks weighing on crude while gas and power drew support from warm weather and tight near-term fundamentals.

Energy markets opened higher this morning as the postponement of US-Iran talks in Switzerland, following renewed strikes between Israel and Hezbollah in Lebanon, pushed geopolitical risk premium back into oil and gas after a week of heavy losses.

European energy markets fell back on Tuesday as the geopolitical risk premium tied to the Middle East conflict began to unwind, with a US-Iran framework expected to be signed in Switzerland on Friday.

European energy markets fell back on Tuesday as the geopolitical risk premium tied to the Middle East conflict began to unwind, with a US-Iran framework expected to be signed in Switzerland on Friday.

Wholesale energy markets opened the week with a steep sell-off as the geopolitical risk premium tied to the Middle East drained away on signs of a US and Iran de-escalation.

Wholesale energy markets fell sharply at the start of the week as an apparent easing of tensions between the US and Iran drained the geopolitical risk premium that had supported prices through early June.

Wholesale energy markets sold off sharply this morning after Washington signalled it would not pursue further military escalation against Iran, prompting traders to unwind the geopolitical risk premium built over the past week.

Escalating conflict between the United States and Iran dominated wholesale energy markets this week, with both sides exchanging air strikes for a second consecutive day and President Trump warning of further action unless Tehran agrees to a peace deal.

Energy markets are firmly back in the grip of geopolitics this morning after Iranian missile and drone attacks on US bases in Jordan, Kuwait and Bahrain marked the largest escalation since April's ceasefire.

Wholesale gas and power settled firmer across the curve on Monday as renewed tensions in the Middle East rebuilt a geopolitical risk premium and cooler near-term weather lifted demand expectations.

Wholesale energy markets opened the week sharply higher as weekend military escalation between Israel and Iran returned a geopolitical risk premium to gas, power and crude, more than reversing a softer set of settlements on Friday.

Energy markets opened firmer this morning, with gas and power both moving higher as Middle East tensions kept a risk premium in place and tight UK nuclear availability supported electricity.

UK and European energy markets held a firm tone in Wednesday's session, with gas and power supported on the curve by geopolitical risk and tight European storage even as a surge in wind drove prompt power sharply lower.

Wholesale energy prices eased at Tuesday's close as milder weather and a surge in expected wind loosened the near-term supply balance across gas and power.

Escalating tensions across the Middle East drove a sharp rally in UK and European gas and power on Monday, with reduced Norwegian supply and weaker wind adding to the bid.

Energy markets opened firmer this morning after a weekend escalation in the Middle East reversed last week's losses, with reports of fresh US and Iranian strikes restoring risk premium across gas, power and oil.

Energy markets firmed across the board on Thursday before the tone softened, as a tentative US-Iran ceasefire framework and the prospect of the Strait of Hormuz reopening began to unwind the geopolitical risk premium that had built up through the week.

UK and European energy markets were dominated by Middle East geopolitics, with a volatile Wednesday session closing lower across gas, power and crude before reversing higher this morning on news of an Iranian strike on a US airbase.

European wholesale energy markets traded with a mixed tone on Tuesday, with prompt gas softer on improved fundamentals while the wider complex firmed on renewed Middle East tensions following US strikes on Iranian military targets.

Wholesale gas and power prices fell sharply into the long weekend as record May heat and strong renewable generation cut demand against a well-supplied market.