Oil Prices Are Once Again on the Brink of $100
Global oil prices are approaching $100 per barrel due to Middle East tensions and Houthi attacks, while European natural gas prices have spiked to 2022 highs. Major energy companies are adjusting their portfolios through divestments and mergers amid these supply concerns.
Why it matters
Rising energy costs threaten to fuel global inflation and create winter supply shocks for European economies.
Oil prices surge toward $100 as Houthi attacks, U.S. strikes on Iranian tankers and renewed Middle East tensions rattle markets. Europe's Gas Prices Surge as Storage Fears Return - European natural gas prices have jumped to 75 per MWh $25.5 per MMBtu, the highest since 2022 and more than double their level a year ago, as the continent's low inventories spark fears of winter supply shocks. - Since the Al Nuaman LNG carrier delivered its cargo to Rovigo, Italy, in early April, the EU has not imported any Qatari LNG, equivalent to 8% of its 2025 imports. - European gas inventories are currently 66% full, with market watchers seeing Germany and the Netherlands as particularly vulnerable ahead of the winter season, with stocks at 54% and 48%, respectively.
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