23/03/2026 – Trump imposes an ultimatum on Iran to reopen the Strait of Hormuz. Further retaliation is possible in the energy sector, with oil and gas prices rising again – Read more news

GAS & POWER: The weekend brought a new escalation in the geopolitical situation in the Middle East: after some signs of apparent de-escalation, President Trump issued an ultimatum to Tehran on Saturday to reopen the Strait of Hormuz, threatening to strike all of the country's power generation plants. In response, the Islamic Republic is reportedly ready to strike again at the energy sector, and beyond, of all remaining Gulf countries. Further updates are expected in the next few hours, with the US deadline set for tomorrow.

According to a report by the FT on Saturday, the European Union has instructed member states to reduce their gas storage capacity target to 80%, to be achieved in the next injection campaign. EU Energy Commissioner Dan Jørgensen, while describing a relatively calm situation, interpreted the measure as a reassuring signal for market operators. At the start of the day, however, prices for summer 26 gas remained at a premium compared to deliveries for the following winter, limiting operator interest.