May 2026 – Week 1

By Anders Lorenzen

As part of an expanded focus on real-time coverage, this live blog tracks developments across global energy markets, including electricity prices, oil and gas benchmarks, and renewable generation trends.

It is updated throughout the week with the most significant developments around energy and related markets with a sustainability lens.

Last week’s live blog can be found here.

Latest

Monday 4th of May 2026

17:50 GMT

Oil price: Oil futures have reacted to no significant breakthrough on peace negotiations between the US and Iran, the future of the Strait of Hormuz remaining uncertain and volatile, and military attacks on oil and gas infrastructure surging on Monday. As trading closed on Wednesday.

The price of Brent Crude has surged to $115/bbl and WTI to $106/bbl, up 6% and 4% respectively from Friday’s trading close.

Earlier updates

17:40 GMT

Catch-up: Why not catch up with last week’s developments and access last week’s live blog below:

17:30 GMT

Company updates: More context and details on the Ørsted and CIP deal can be found in our article below:

Saturday 2nd of May 2026

18:00 GMT

Company updates: A pretty significant deal has been struck between two Danish-headquartered, but global, clean energy giants.

Ørsted, the world’s largest offshore wind developer, and Copenhagen Infrastructure Partners (CIP), a fund manager and lender and a significant clean energy investor, have acquired Ørsted’s onshore wind platform and have established a new energy company, Perigus Energy.

With the acquisition of Ørsted‘s onshore wind assets, the company that is to be headquartered in Ireland, has a portfolio of 862 megawatts (MW) of onshore wind capacity spread across Ireland, Germany, the UK and Spain.

In addition to managing these assets, the new company announced that they will continue to build out new renewable energy, but in addition to onshore wind, also in solar and battery technologies.