Oil and gas prices spike as Middle East conflict escalates

James Murray
clock • 4 min read
Oil and gas prices spike as Middle East conflict escalates

European gas prices initially soar 24 per cent and oil prices climb 13 per cent, as shipping through Strait of Hormuz faces immediate disruption

Oil and gas prices rose sharply this morning, as fears grow that the escalating conflict between Israel and the US and Iran will result in severe disruption to fossil fuel supplies across the Middle East....

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

James Murray
Author spotlight

James Murray

View profile
More from James Murray

Gas prices are volatile, gas shocks are inevitable

'Outright arson': Trade unions urge government to reject Rosebank oil field

More on Risk

TNFD: Over 830 firms and investors have now committed to disclosing nature risks
Risk

TNFD: Over 830 firms and investors have now committed to disclosing nature risks

Organisations backing TNFD guidelines include investors representing $26tr in managed assets and publicly-listed firms representing $10.5tr in market capitalisation

Michael Holder
Michael Holder
clock 15 October 2026 • 4 min read
'Sounding the alarm': Insurers' retreat from climate risk coverage 'has already begun', insiders claim
Risk

'Sounding the alarm': Insurers' retreat from climate risk coverage 'has already begun', insiders claim

Insurance and reinsurance sectors have prepared neither themselves, nor their customers, for a 'far from predictable' world, non-profit warns

Stuart Stone
Stuart Stone
clock 15 October 2026 • 4 min read
Survey: Most Brits expect their homes to face extreme weather challenges
Risk

Survey: Most Brits expect their homes to face extreme weather challenges

Ipsos poll commissioned by Santander UK finds many households lack confidence or support needed to invest in climate resilience measures at home

Michael Holder
Michael Holder
clock 15 October 2026 • 4 min read