Commodities: Middle East Escalation Pushes Energy Prices Higher
15 Articles
15 Articles
Energy prices are once again rising and threatening new price increases to be paid by end-users in products such as diesel, petrol, natural gas and even electricity.
The markets remain trapped between the Yields and the oil barrel escalation. The Brent oil barrel quotation for delivery in November ended this Tuesday in the London futures market at 4.59%, for the $94.65, after a new U.S. attack on Iran.
Brent crude oil rose to $97.04 per barrel following reciprocal attacks between the US and Iran. Decreasing US crude oil inventories and attacks on commercial shipping in the Strait of Hormuz were other major factors driving prices higher.
The fighting between the United States and Iran has renewed, which immediately moved energy prices. The price of Brent and WTI has also increased significantly, with Brent briefly rising above $97 on Wednesday. Meanwhile, the price of natural gas on the Dutch TTF gas exchange has risen to a level not seen since January 2023. The market fears that the conflict could again disrupt LNG shipments from the Persian Gulf. Moreover, European gas storage…
(Teleborsa) - Sitting little move for the European Bags, in the wake of the drops of Wall Street and Asia, after the oil Brent has exceeded the 95 dollars per barrel, reaching the highest level in almost six...
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