Energy markets were dominated last week by geopolitical risk around the Strait of Hormuz, where an escalation between the US and Iran briefly inflated a risk premium before both sides agreed over the weekend to halt hostilities and resume talks.

Wholesale gas and power eased through Thursday's session as the geopolitical risk premium tied to the Middle East continued to fade and forecasts pointed to cooler, windier conditions from the weekend.

Energy markets fell across the board in Wednesday's session as the geopolitical risk premium attached to the Middle East continued to unwind, dragging gas, power and crude lower while carbon firmed against the trend.

Wholesale energy markets opened on the back foot on Wednesday as easing Middle East tensions continued to strip risk premium out of gas and oil, with strong supply and warm weather adding to the bearish tone.

Easing Middle East tensions dominated trade, with a US-Iran framework and the reopening of the Strait of Hormuz unwinding the risk premium that had supported gas and crude.

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.