Energy markets experienced another highly volatile month, in large part due to ongoing tensions across the Middle East.
The US-Iran conflict continues to disrupt supply through the Strait of Hormuz with bouts of escalation and de-escalation painting a mixed picture of peace talks.
Troo energy trading expert Melvyn Wilson offers his guidance to help break down the major forces driving wholesale energy prices this week.
In this article:
Learn how global energy markets have moved in June 2026.
Understand the issues affecting business energy prices today.
Discover what your business can do to manage risk in an unstable world.
Looking ahead, energy markets are expected to remain highly volatile and driven by geopolitical developments, particularly the trajectory of the US–Iran conflict and the status of the Strait of Hormuz.
Mixed progress in peace negotiations may trigger short-term price falls, but the absence of a lasting resolution will continue to maintain risks.
Supplies of liquefied natural gas (LNG) remain tight, European gas storage levels are lower than usual for this time of year, and strong demand from Asia is increasing competition for resources that is available.
Warmer weather and increased renewable energy generation may ease some pressure on prices during the summer months. However, underlying concerns about supply mean any major disruption could quickly push prices higher.
Analysts do not see wholesale prices dropping significantly in 2026 even if the conflict is resolved.
You can see the impact of the US/Iran conflict on gas prices from the end of February.
You can see the impact of the US/Iran conflict on power prices from the end of February.
The world is changing. It can be scary. You know you need to stay on top of the news, but that can be difficult while focusing on running your business and serving your customers.
We get it. We can support you.
Troo exists to help businesses like yours make sense of their energy needs, simplify complex information and make smart decisions that lead to real change and reduced costs.
Book a free energy health check today for practical guidance on your business electricity, gas or water bills.
We are not here to sell you a quick fix. We're here to understand what matters to you, offer clear advice, and take ownership of the hard parts, so energy becomes one less thing to worry about.