16/09/2026 – US War – Iran: European Union Says €90 Billion More in Fossil Fuel Import Costs – Read More News

GAS & POWER: The energy sector remains buoyant this morning with crude prices testing $108/bbl, while front-month TTF product at the opening of the session again reached 82 €/MWh – with the psychological threshold of 80 €/MWh confirming strong support in yesterday's session as well. Operators focused on developments affecting Saudi crude supplies, with the first cancellations announced yesterday following recent attacks by the Houthis.

EQUITY: The crisis over energy prices continues to dominate the scene in the financial markets, which are, however, trying to curb the decline of the last few sessions this morning. EU Commission President Ursula von der Leyen updated the estimate of the effects of the US-Iran war on the higher import costs of energy commodities for the Union, now around €90 billion – after the first 30 days the estimated impact was around €14 billion. Updates are also expected on the evolution of the relationship between the European Union and Canada, following the latter's deterioration in relations with the United States. On the macro front, the update of inflation in the United Kingdom has been published, rising to +3.1% on August – its highest since last March.