Oil prices soared to $95 per barrel, driven by the conflict in Iran, while the price of natural gas reached its highest value in over three years, according to energy market analysis. This rise represents an increased threat to end energy consumers.
The rise in energy prices directly affects essential products such as diesel, gasoline, natural gas and electricity. End consumers face the prospect of new price increases for these energy products.
Geopolitical tension in the Iran region has been fueling instability in global energy markets. Investors reacted to the worsening situation with a view to seeking security, which contributed to the appreciation of crude in international markets.
This new price peak comes in a context where markets were already facing significant pressures from the supply and global demand side. The combination of the Iranian conflict with other market factors threatens to keep energy prices at high levels for an extended period.
