A reported pause in hostilities between the United States and Iran has triggered a sharp correction across European energy markets this morning, unwinding much of the risk premium accumulated during an eight-session rally.

Escalating conflict risk in the Middle East sent Brent back above $100/bbl on Thursday, even as European gas and power prices drifted lower on cooler weather and comfortable summer supply.

Escalating hostilities around the Strait of Hormuz, with reported attacks on tankers and threats to regional energy infrastructure, drove European energy markets sharply higher on Wednesday.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.