June 2026 – Week 2
In this week’s live blog, we are taking a broader look across climate and energy, covering the key news, developments and comments.
As part of an expanded focus on real-time coverage, this live blog will continue to track developments across global energy markets, including electricity prices, oil and gas benchmarks, and renewable generation trends. But we will also track key climate news and events, including impacts such as extreme weather events as they happen.
It is updated every day throughout the week with the most significant developments around energy and climate.
Last week’s live blog can be found here.
Key developments we are tracking this week:
- The fallout and the impacts of the unprecedented record heat in Europe and beyond
- How the Middle East crisis drives volatility across oil, gas and electricity markets
- Policy shifts driven by the energy crisis
Latest
Monday 8th of June 2026
10:15 GMT
Extreme weather: On the back of what we reported in last week’s live blog, the briefing by the World Meteorological Organisation (WMO) on the 2026 El Niño, which the UN body says has been forming for the past three months and could start this week, with its peak intensity expected to last until November this year. Our article below offers the key details on what WMO expects:
Earlier updates
10:00 GMT
Oil price: Oil Futures have surged on Monday after having recorded drops on successive days at the end of last week. Again, the Oil Futures have reacted to geopolitical developments rather than supply and demand.
In early trading on Asian and European markets, Brent Crude and WTI were up by around 4% each compared to the end of Trading on Friday, as Iran and Israel exchanged fire, prompting pessimism about any progress on peace negotiations and ending the blocking of the critical oil trade passage, the Strait of Hormuz.
You can view the latest daily Oil Futures changes, including historical data, below:
Friday 5th of June 2026
10:30 GMT
Oil supply: The IEA have repeated warnings of record-low oil inventories and added that we may reach historical low levels.
10:10 GMT
Food security: In an article we published yesterday, Máximo Torero, the Chief Economist of the Food and Agriculture Organisation of the United Nations (FAO), argued that food prices are set to rise due to interconnected global shocks from crises like the Hormuz blockade, saying it requires urgent resilience-building measures.
Torero stated:
The world is entering an age of shocks, where crises are no longer isolated events but interconnected disruptions with global consequences. COVID-19 exposed vulnerabilities in global supply chains. The war in Ukraine has disrupted food and energy markets. Now, the Strait of Hormuz crisis is revealing how tightly interconnected energy, fertiliser, and food markets have become.
He urged governments to urgently prioritise:
In the long term, countries must focus on building structural resilience. That means investing in diversified ports, roads, railways, warehouses, logistics hubs, and alternative trade corridors to reduce dependence on chokepoints. Countries should also establish strategic fertiliser reserves, enhance regional and domestic connectivity, and invest in cleaner and more resilient energy systems for agriculture.
Read the full article below:
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Categories: climate change, Energy, heat wave, live updates, Weather
A greener life, a greener world 