James Smith James Smith

Energy Market Report - 22 July 2026

The deepening conflict between the US and Iran kept energy markets on the front foot, driving European gas to fresh four-month highs with power, oil and coal following.

Read More
James Smith James Smith

Energy Market Report - 21 July 2026

A ninth consecutive night of strikes between the United States and Iran kept wholesale energy markets on the front foot into Monday's close, with disruption to shipping through the Strait of Hormuz feeding supply-security concerns across gas, power and oil.

Read More
James Smith James Smith

Energy Market Report - 20 July 2026

A ninth consecutive day of strikes between the US and Iran, including reported attacks on oil tankers in the Strait of Hormuz, has pushed energy markets sharply higher, extending Friday's broad rally.

Read More
James Smith James Smith

Energy Market Report - 17 July 2026

A sixth consecutive night of US-Iran strikes has kept a heavy risk premium in near-dated gas and oil, with concerns over LNG transit through the Strait of Hormuz outweighing an otherwise comfortable European summer supply picture.

Read More
James Smith James Smith

Energy Market Report - 16 July 2026

Energy markets extended their rally on Wednesday as a Middle East risk premium, tighter LNG supply and weaker wind lifted gas, power and crude alike.

Read More
James Smith James Smith

Energy Market Report - 15 July 2026

Energy markets pushed higher again on Tuesday as an intensifying geopolitical risk premium around the Strait of Hormuz combined with hot weather and below-average storage to lift gas, power and carbon.

Read More
James Smith James Smith

Energy Market Report - 14 July 2026

Escalating tensions in the Middle East dominated wholesale energy markets on Monday, with reports of attacks on shipping near the Strait of Hormuz and the prospect of a transit fee on Gulf cargoes driving prompt gas, power and oil sharply higher.

Read More
James Smith James Smith

Energy Market Report - 13 July 2026

Energy markets open the week on a firmer footing after a weekend of renewed Middle East escalation rebuilt risk premium across the complex, reversing a softer close on Friday.

Read More
James Smith James Smith

Energy Market Report - 10 July 2026

Middle East supply risk continued to shape energy markets this week, with disruption to shipping through the Strait of Hormuz and reported delays to Qatari LNG production keeping a risk premium under gas and oil.

Read More
James Smith James Smith

Energy Market Report - 09 July 2026

Wholesale energy prices firmed further into Thursday as a renewed round of US strikes on Iran and the continued threat to shipping through the Strait of Hormuz kept a heavy risk premium across gas, power and the wider commodity complex.

Read More
James Smith James Smith

Energy Market Report - 08 July 2026

A serious escalation around the Strait of Hormuz drove a broad risk premium through European energy on Tuesday, lifting gas, power and crude as the market weighed the threat to Gulf shipping.

Read More
James Smith James Smith

Energy Market Report - 07 July 2026

Wholesale gas and power reversed sharply higher in early trade on Tuesday after reports of an overnight attack on commercial shipping in the Strait of Hormuz revived geopolitical risk, compounding an already tightening summer picture of building heat and falling wind.

Read More
James Smith James Smith

Energy Market Report - 06 July 2026

Wholesale energy markets ended last week firmly higher as stalled diplomacy between the US and Iran rebuilt a geopolitical risk premium around the Strait of Hormuz, while a fresh European heatwave lifted demand across the complex.

Read More
James Smith James Smith

Energy Market Report - 03 July 2026

British and European energy markets ended Thursday firmer across the near curve, with gas, power and coal all gaining while carbon was mixed and oil steadied after a sharp weekly fall.

Read More
James Smith James Smith

Energy Market Report - 02 July 2026

Wholesale energy markets fell broadly on Wednesday as surging wind forecasts and easing tensions between the US and Iran stripped risk premium out of gas, power, carbon and oil.

Read More
James Smith James Smith

Energy Market Report - 01 July 2026

Renewed geopolitical risk drove wholesale gas and power higher on Tuesday and again into this morning, as a faltering US-Iran diplomatic process and thinner shipping through the Strait of Hormuz restored a risk premium across the curve.

Read More
James Smith James Smith

Energy Market Report - 30 June 2026

UK and European wholesale energy markets firmed sharply into Monday's close, led by gas and power on a combination of depleted storage, a renewed geopolitical risk premium and a heat-driven demand spike.

Read More
James Smith James Smith

Energy Market Report - 29 June 2026

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.

Read More
James Smith James Smith

Energy Market Report - 26 June 2026

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.

Read More
James Smith James Smith

Energy Market Report - 25 June 2026

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.

Read More