August Review Energy Markets Specialist: Adam Novakovic As domestic football returned, so did familiar narratives in the energy markets. War in the Middle-East and European nations scrambling to meet their mandated gas reserve levels pushed prices up. While outages at Norwegian gas fields only added to the supply-side issues.
By Adam Novakovic The month’s energy market movements offered parallels to the England football team: July began with great optimism but that was shattered with many questioning the judgement and integrity of officials. The ceasefire between Iran and the US was broken leading to a resumption of hostilities and a disruption to global trade routes. The impact of this on gas and electricity costs will be felt for months to come, and events in the Middle East look set to dictate energy prices for the foreseeable future.
