Conflicts in the Gulf region have historically had a rapid and strong impact on global energy markets. As the region supplies a significant portion of the world's oil and gas, any geopolitical tension arising there immediately causes price fluctuations. Statistical indicators from the first week of the new conflict in the Gulf region also show significant price increases in energy markets. Nevertheless, prices still remain below the record levels recorded in previous years.
Modern.az reports that, according to the results of the first week, the price of Brent crude oil increased by 27.9 percent during the week. Despite this, this indicator is still approximately 36 percent below the record level recorded in 2008.
In the natural gas market, which is one of Europe's main gas indicators, a sharper dynamic was observed. Here, prices rose by 67 percent within a week. Nevertheless, prices remain approximately 84 percent below the record level recorded during the 2022 energy crisis.
An increase is also observed in the electricity market. In the European Union's electricity market, prices rose by 18.6 percent. However, this level is also approximately 85 percent below the 2022 record.
In the Asian region, coal prices also continue to rise. Prices increased by 15.5 percent during the week, but this indicator is approximately 70 percent below the record prices recorded in 2022.
The US natural gas market also showed an increase. US natural gas became 11.2 percent more expensive within a week and is still approximately 79 percent below the record price recorded in 2005.
