08/07/2026 – Following the latest attacks in the Strait of Hormuz, the United States has responded with further attacks and the reimposition of trade sanctions on crude oil. The surge in gas and oil prices continues – Read more news
GAS & POWER: The US response came during the night, and was even harsher than the previous one. As well as attacking several Iranian military sites linked to the defence and control of the passage through the Strait of Hormuz, the US administration has reimposed the sanctions that had been lifted following the signing of the MOU with Tehran. This morning, the Iranian military launched retaliatory attacks against US sites in Bahrain and Kuwait. Crude oil prices are up by more than 3 per cent this morning, whilst gas prices are rising even more sharply, returning to just under the €50/MWh mark – with the pre-agreement risk premium having largely recovered.
OIL: Crude oil prices have risen to their highest levels since 24 June after the United States reimposed sanctions against Tehran overnight; these are now set to come into force on 17 July, well ahead of the previous deadline of 21 August – three days after the end of the 60-day truce set out in the latest agreement between the two countries.
OIL: Crude oil prices have risen to their highest levels since 24 June after the United States reimposed sanctions against Tehran overnight; these are now set to come into force on 17 July, well ahead of the previous deadline of 21 August – three days after the end of the 60-day truce set out in the latest agreement between the two countries.
