Energy Market Review and Lookahead: What has influenced electricity and gas prices along with the Iran conflict?
Learn more about recent market drivers by downloading your free copy of the Q1 2026 Energy Market Review and Lookahead.
Over the recent weeks, the extensive geopolitical influences from the US-Israel-Iran conflict have dominated the global energy market movements.
While a two-week ceasefire between the US and Iran provided tentative relief to markets and a partial unwinding of risk premia, failure of the first round of peace talks and President Trump’s subsequent blockade of the Strait of Hormuz has left markets cautious of increasing escalation – leaving room for upside risk.
Yet, the conflict has not been the only factor influencing gas and electricity prices in the UK or the European carbon market during the first quarter of 2026.
What is the latest?
Energy procurement decisions should be founded in the latest market information. This is why Inspired’s experts continuously monitor and analyse global energy markets to form expert insights.
Our latest expert resource, Energy Market Review and Lookahead Q1 2026, examines what has driven electricity and gas prices in recent weeks before outlining our latest buying recommendations moving forward.
Moreover, the guide explores what happens to the market if the Iran conflict ends.
What are some of the key market insights of Q1 2026?
- Geopolitical volatility has driven considerable upside, with the fundamental supply disruptions resulting from the Iran conflict extending beyond its initial near-term market impact.
- Positive renewable generation over the quarter cushioned power markets against rising gas prices, limiting overall exposure to the upside.
- Gas markets are undergoing a directional shift from earlier expectations of increased supply flexibility – driven by a bearish liquefied natural gas (LNG) outlook toward tighter supply-demand balances and elevated infrastructure risk due to the Iran conflict.
If you would like to hear more about the first quarter of 2026 from Inspired’s experts, you can watch our Risk Director Daniel Turvey’s take on the market situation here.
The information in our Energy Market Review and Lookahead is correct at the time of publishing. You can download your free copy by filling in the form below.
