Geopolitical tensions in the Middle East and Russia have pushed Brent to $105 and WTI above $100, as supply disruptions trigger a scramble for alternative energy sources including coal.
Houthi strikes on Saudi oil infrastructure and low Saudi output threaten Middle Eastern supply, pushing Brent above $105.
European gas prices hit 44-month high above €80/MWh on supply fears from Ukraine strikes and Qatar force majeure.
WTI broke $100 with rally momentum on global supply disruptions and low US diesel stocks.
IEA raised 2026 global coal demand forecast to record high as oil and LNG disruptions drive coal-fired generation.
TotalEnergies benefits from high LNG prices and new Angola discovery, plus term LNG cargo deal with Bangladesh.
US copper tariff delay removes near-term import cost pressure amid inflation concerns.
Global energy markets face severe volatility as Houthi strikes on Saudi infrastructure threaten 4 million barrels per day of crude exports. Simultaneously, European gas prices have surged to a 44-month high above €80/MWh, while US diesel inventories plummet toward 23-year lows, forcing a global shift back toward record coal consumption.
Prices are rising due to a confluence of factors: Houthi militant strikes on Saudi oil infrastructure, drone attacks on Russian gas facilities, and critically low US diesel inventories.