Energy markets traded sharply higher into Thursday as geopolitical tension over the US blockade of the Strait of Hormuz pushed a renewed risk premium across gas, power, and the wider commodity complex.

European gas and power markets traded firmer this morning, recovering from Tuesday's softer settlement as Middle East geopolitical risk reasserted itself across the wider commodity complex.

European wholesale energy markets opened the week on a steadier footing after a five-day bull run lost momentum, with mild and windy conditions weighing on prompt gas and power even as crude continues to provide underlying support.

Wholesale energy markets have opened the week firmer, with gas and power both extending Friday's gains as cooler weather forecasts and weaker wind output sharpen near-term demand against an already constrained supply backdrop.

European energy markets extended their rally on Thursday as the US-Iran conflict, now in its ninth week, continued to lift gas, power, oil, coal and carbon in tandem, with UK NBP closing higher for a fourth consecutive session.

European gas and UK power extended a third consecutive day of gains as escalation in the Strait of Hormuz and a fragile US-Iran ceasefire kept a firm bid under the wider energy complex.

European gas markets rallied through yesterday's session as the US-Iran ceasefire deadline approached without a credible path to a permanent agreement, before steadying overnight when Washington extended the ceasefire indefinitely.

European wholesale energy markets reversed part of Monday's sharp gains this morning as traders weighed cautious optimism around US-Iran talks in Pakistan against continued tightness in Norwegian gas supply and a deteriorating UK wind outlook. Oil markets steadied near $95/bbl after surging on the weekend closure of the Strait of Hormuz, with the wider commodity complex remaining sensitive to developments ahead of Wednesday's ceasefire expiry.

Wholesale gas and power prices have rebounded this morning, unwinding most of Friday's sharp sell-off after Iran re-closed the Strait of Hormuz over the weekend following the US navy's seizure of an Iranian cargo vessel. The wider commodity complex has followed suit, with Brent crude recovering around 6 per cent, UK carbon extending its recent run, and peace talks scheduled for Islamabad today remaining in doubt.

Risk premium remained the dominant influence across UK wholesale markets yesterday, with firmer settlements across gas, power, crude and carbon driven by Middle East tensions, Norwegian supply losses and a material UK policy shift on carbon. Friday's session has opened with a softer front end as reports of a 10-day Israel-Lebanon ceasefire filter through, though further-out contracts are holding firm on unresolved supply uncertainty.

Gas and power markets fell sharply on Wednesday as the US-Iran ceasefire continued to hold and mild temperatures suppressed demand. A partial recovery emerged on Thursday morning as Norwegian maintenance tightened prompt supply.

Energy prices fell sharply as geopolitical risk premia continued to unwind across the complex, with the US-Iran ceasefire holding and fresh diplomatic signals pointing to further de-escalation. Mild weather, rising wind output and healthy Norwegian supply added to the bearish tone.

Gas and power prices opened softer on Tuesday morning as geopolitical risk premia eased slightly. Rising European temperatures are trimming heating demand and supporting storage injections, while an improving wind outlook for mid-week is weighing on near-curve contracts.

Energy markets opened sharply higher on Monday after US-Iran peace talks collapsed over the weekend and the US announced a naval blockade on the Strait of Hormuz, reversing Friday's risk-premium unwind and reigniting concerns over global crude and LNG supply routes.

Markets opened softer this morning after a volatile week dominated by Middle East tensions, though the relief proved tentative as the US-Iran ceasefire showed further signs of fracturing.

Ceasefire headlines between the US, Israel and Iran drove a dramatic repricing across energy markets on Wednesday, though early Thursday trade has partially unwound the move as doubts over the agreement's durability resurface.

European energy markets sold off sharply following the announcement of a two-week US-Iran ceasefire, unwinding much of the geopolitical risk premium built through late March and Easter. Gas, power and crude all fell heavily, though the brief window of the agreement leaves significant uncertainty over whether lasting terms can be reached.

European energy markets opened sharply higher after the Easter break, driven by escalating US-Iran tensions and disruption at the Strait of Hormuz. Gains faded through the morning as mild weather and comfortable system balances tempered buying interest. Carbon moved against the trend, falling on auction pressure and holiday position-squaring.

Energy markets whipsawed through mid-week as ceasefire speculation drove heavy selling on Wednesday before a combative overnight address from President Trump reversed sentiment, sending gas and oil sharply higher in early Thursday trade.

Wholesale energy markets opened sharply lower on Wednesday morning as diplomatic signals raised cautious optimism that the Iran conflict may be nearing its conclusion. Gas and power prices fell across the curve, with geopolitical risk premia being actively unwound.