Energy markets surged in mid-June amid rising geopolitical tensions and mounting supply concerns, with power and gas prices climbing to levels not seen since early spring.
Electricity Market Movements
UK power prices rallied sharply, driven by geopolitical escalations
Reports of renewed corrosion at one of EDF’s reactors in France helped push power prices up further
Short-term power prices lifted due to ongoing maintenance and reduced wind output
Gas Market Movements
The Israel-Iran conflict and unplanned North Sea outages have propelled UK gas markets upward
Prices gained momentum from intensified global LNG competition
EU storage injections have been strong over the last two weeks, though this has done little to remove risk from market prices.
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