Latest Market Update - June 2025
After the events of the last week, we have now seen much risk premium removed from price levels. Despite Israel claiming that an Iranian missile hit them after the ceasefire started, and intended to retaliate, markets held their nerve in the anticipation the ceasefire would hold – and so far it appears to have done that.
Threats, including the closing of the Strait of Hormuz, seem to have been set aside for now, allowing the continuation of shipping in the area.
That said, tensions will still remain at alerted levels. But for now, and whilst the ceasefire holds, the markets can breathe a sigh of relief after rising in the past few weeks as fears of escalation were played out.
Temperatures are forecasted to be around seasonal norms this week. Some windier days are expected also boosting generation.
EU gas storage level is at 56.9% full. Storage was at 77.08% this time last year.
Norwegian planned maintenance period is coming to an end, and we should see much improved output levels. More outages are planned for late August and into September.
2 LNG (Liquid Natural Gas) cargoes heading to the UK in the coming weeks.
