26/05/2026 – United States – Iran: the never-ending negotiations are keeping gas prices at recent highs – Read More News

GAS & POWER: This contradiction remains at the heart of the negotiations between the United States and Iran. Following positive signs over the weekend, with President Trump’s announcement of an agreement “largely negotiated”, gas prices are finding support this morning from renewed military skirmishes in the Strait and rumours regarding the timing of the reopening to shipping – according to a report published overnight, discussions are reportedly centring on 30 days after the end of the conflict.

Over the weekend, new movements of LNG carriers were recorded in the Strait, with at least three vessels passing through: the AL RAYYAN is now east of Hormuz, heading to China towards the port of Guangdong, whilst the FUWAIRIT is expected to arrive in Pakistan by the end of the day; both are operated by QatarEnergy. ADNOC, meanwhile, has managed the passage of the AL HAMRA, bound for India, whilst the UMM AL AMAD appears to have its transponder deactivated, but is still bound for India by tomorrow.

ITALIA: Yesterday, Edison announced that QatarEnergy had extended its force majeure declaration until mid-August, affecting a further five LNG shipments. Since the start of the conflict, the number of missed deliveries has therefore risen to 17, representing a total volume of 2.2 billion cubic metres. As of yesterday, Edison had managed to replace 9 of the 17 shipments, amounting to 1 billion cubic metres over the period.