Energy Market Update 07/04/2026

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy sector. Whether it’s fluctuations in oil and gas prices, changes in renewable energy policies, or updates on energy infrastructure projects, we’re here to help you stay informed. Join us as we break down the most important factors influencing the market this week, and explore what these changes could mean for your business.

Current Market Drivers:

⚠️ The shutdown of Ras Laffan and Das Island reduces global LNG supply by around 8bcm for each month the conflict continues, with Northwest Europe facing a 3bcm shortfall and Asia absorbing the larger 5bcm impact.

🗣️ Equinor’s director said energy supplies are unlikely to normalise this year, with recovery dependent on peace talks, security guarantees for the Strait, fleet restoration and port repairs, all of which are expected to take longer than markets currently assume.

🔌 Ember said EU grid constraints could delay around 120GW of new renewable capacity by 20230, with bottlenecks increasingly posing an energy security risk by prolonging reliance on gas-fired generation and helping to keep power prices supported.

🚢 Golden Pass LNG project in the US has started production and is on track to deliver its first LNG cargo, with US summer LNG exports expected to rise 19% year-on-year.

🌬️ UK clean power generation has reached record highs in 2026 so far, with Q1 wind output up 31% year on year, lifting total clean generation by 16% and helping cushion power markets from gas price volatility.

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