Chart Deck
Unintended consequences
Attempts to break the US-Iran stalemate are raising the risk of conflict sprawling sideways into dimensions the market has not yet priced
Chart Deck
TTF to the moon?
EU gas price surges past €60 per MWh. But is the top already in?
Deep Dives
How the sun rewrote Pakistan’s LNG strategy
Europe’s 2022 gas grab taught Pakistan that long-term contracts do not guarantee molecules. Consumers answered blackouts and price spikes with 50 GW of unplanned solar. The result is an energy paradox: Pakistan is short of LNG today, but long on contracted supply to 2030.
Chart Deck
The Hormuz clown show gets serious
Diplomacy has taken the back seat in the clown car. Markets have stopped laughing and started buying
Chart Deck
Will the €50 ceiling hold?
“After four months of paralysis, the relief is palpable. It may also be misleading. And it is almost certainly temporary.” – Energy Flux, 26 June 2026 Well, that didn’t last long. Barely three weeks into a supposed two-month ceasefire, US missiles and Iranian drones are criss-crossing the Persian
Deep Dives
Asia’s LNG demand: reality check
Shell’s 2026 Outlook leans harder than ever on stratospheric Asian demand to justify a new wave of LNG investment. But post-Hormuz, the data and policy responses all lean the other way.
Guest post
From Moscow to Mar-a-Lago
Europe’s energy dependency has a new address. The continent has made a Faustian bargain with US LNG it doesn’t need.
Chart Deck
The Hormuz Half-Life
Iran holds the valve, but it is worth less every time it turns... so Tehran is reaching for the gun.
Strait of Hormuz
INTERVIEW: The Iran deal is an unmitigated disaster for the US
“This is a historic capitulation that will define the structure of global power for the next hundred years.”
Hot takes
The Fog of Peace
The US says the war is over and Hormuz is open. Energy markets are desperate to agree. Here’s what we know, what we don’t, and why the next two months will be more dangerous than headlines suggest.
The Energy Flux Podcast
Countdown to the Commodities Crunch
🎧 The looming macroeconomic shock, ballooning winter risk for EU gas markets, demand destruction & post-Hormuz narrative whipsaw
Chart Deck
The slow grind higher
The gas market is no longer pricing a clean Hormuz reopening. It is pricing something messier: conditional transit, shifting LNG flows, nervous funds, and a shortfall in European gas storage injections.