Wednesday 17 June daily market report

Daily Market Report - Wednesday 17th June 2026

Gas and power

Prices settled lower for a fourth consecutive day as hopes for a peace agreement and the reopening of the Strait of Hormuz continued to weigh on market sentiment. Adding to the bearish outlook, QatarEnergy indicated that it could rapidly increase LNG production once greater clarity emerges regarding the reopening of the strait. At the same time, we are seeing a ramp-up in volumes from Golden Pass, which has reached its highest levels since start-up. Despite these developmaents, the market remains cautious, with participants awaiting further details on the peace agreement and a clearer timeline for the full restoration of regional energy flows. 

Adjacent markets

Oil prices extended losses on Tuesday, falling 4% to a three month low as markets grew more confident that a potential US Iran peace agreement could unlock additional supply from the Middle East. Developments in the region continued to influence broader risk sentiment, with European equities advancing—both the FTSE 100 and STOXX 50 closed higher—while US markets showed signs of consolidation. The S&P 500 edged lower in early trading, following three consecutive sessions of gains, as investors reassessed geopolitical developments alongside recent market strength. 

Closing prices