Monday 1 June daily market report

Markets eagerly await President Trump’s response to latest ceasefire deal

Gas and power

Power and gas markets remained largely flat and rangebound overall last week, despite strong intraday volatility during some sessions. Geopolitical sentiment was unsettled as early‑week concerns following reports of US and Iranian attacks shifted toward cautious optimism later in the week amid indications of a potential 60‑day ceasefire extension and the reopening of the Strait of Hormuz, though the agreement still awaited President Trump’s approval, keeping markets hesitant to move strongly in either direction. Meanwhile, unseasonably warm weather continued to suppress demand and supported strong solar generation. 

Adjacent markets

Risk sentiment remained constructive on Friday, with US equities advancing alongside global markets while oil prices extended their decline as investors grew more confident that tensions between the United States and Iran may continue to ease. A technology-led rally supported gains across the major US indices, while Treasury yields slipped for a fourth consecutive session, reflecting a broader shift away from the geopolitical concerns that dominated markets earlier in the week. As the week drew to a close, investor focus increasingly turned towards signs of diplomatic progress and the prospect of a more durable peace agreement. 

Closing prices