Middle East Conflict Drives Energy Prices Higher
The Middle East escalation has pushed energy prices higher, with Brent crude oil futures reaching their highest level in over a month. The price of Brent crude broke above $95 per barrel as tensions in the region intensified.
TTF gas prices also reached their highest level since 2023, trading at EUR75/MWh in early morning trading. This surge is likely driven by the ongoing conflict and its impact on global energy supplies.
Meanwhile, gold prices eased to a two-week low, slipping below $4,300 per ounce as oil prices rose. The strengthening dollar also contributed to this decline in gold prices.