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Energy Risk Europe Leaders’ Network: the challenge of unpredictability

The European Leaders’ Network, sponsored by Engie, convened in London on June 29, 2026, and focused on the impact of geopolitical tension, price volatility and policy uncertainty on European energy markets.

A man walks in fog, surrounded by direction signs pointing in many different directions

Participants at Energy Risk’s European Leaders’ Network event, which took place on June 29, 2026, agreed that a major challenge faced by energy markets participants today is the disconnect between fundamentals and market expectations. In the months following the February outbreak of the US-Iran war, markets have repeatedly sold off on social media posts from the US political administration heralding a quick resolution to the conflict which has failed to materialise.

US president Donald Trump’s

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