Another flare-up in the Middle East, combined heat waves during the peak tourism season and Europe’s push to replenish natural gas reserves before winter is driving a new wave of increases across the energy sector and deepening uncertainty in global markets.
High temperatures are pushing up electricity demand, new flare-up in the Middle East is fueling a new rally in natural gas and oil, and the rise in wholesale prices is paving the way for higher electricity tariffs in August.