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.
This June saw a record-breaking heatwave and the commencement of an expanded World Cup, but it wasn’t just football and tropical temperatures that were a cause for celebration. This month also saw the re-opening of the Strait of Hormuz as the US and Iran brokered a tentative peace-deal that sent waves of relief across volatile global energy markets.
