Land oil and gas prices are rising sharply in the wake of rising geopolitical tensions, following the US attack on Iran and Tehran's threats to close the Strait of Hormuz, a crucial transit route for energy resources.
In Amsterdam, gas prices jumped 2% to 41,90 euros per megawatt hour at the opening of the day. On the oil market, Brent gained 1,12% to $77,88 per barrel, while WTI rose 1,15% to $74,69. In the last few hours, both indices reached their highest levels since January, although they later reduced their gains.
Since the conflict began on June 13, Brent has risen by 13% and WTI by 10%.
The increase is also reflected in fuel prices: according to Staffetta Quotidiana, average prices of gasoline and diesel at the pump have reached their highest levels since April, with a jump recorded since Friday.
Tensions are also weighing on European stock markets, which are opening the week in negative territory. Milan, the Ftse Mib falls 0,8% to 38.915 points. There are also declines in Paris (-0,52%), Frankfurt (-0,46%) and London (-0,36%), with markets cautious awaiting Tehran's moves.
Geopolitical uncertainty continues to dominate economic scenarios, fueling fears for the stability of global energy supplies.
Article published on 23 June 2025 - 15:25
Gas and oil prices have increased a lot, but I don't know if this is good or bad for the economy. Prices at the pump are going up and people might have trouble paying. It would be better to find alternative solutions.