Topic
energy prices
Commodities Guernsey Energy Prices Rise by 19% in a Year - Report
Energy prices in Guernsey rose 19% over the year ending June 2026, the highest among all categories, pushing overall RPI inflation to 4.3%. Retired households saw a 5.2% increase in their cost of living, according to a new report.
Commodities Government says household PNG prices remain stable despite higher LNG prices and West Asia crisis
The Indian government has stated that household piped natural gas (PNG) prices have been kept stable and affordable despite higher global liquefied natural gas (LNG) prices triggered by the West Asia crisis. The measures include a capped domestic gas price of USD 7 per MMBtu and allocation of 105% of previous quarter's consumption. The PNG network continues to expand, with over 1.70 crore connections as of May 31, 2026, though a target of 1.2 crore new households by March 2027 was not explicitly confirmed.
Commodities Geopolitical Tensions Drive Wholesale Energy Costs, Ofgem Price Cap Rises 13%
The UK's energy price cap rose 13% from 1 July 2025, driven by higher wholesale oil and gas costs linked to the US-Israel war with Iran. Ofgem's new cap sets gas at 7.33p/kWh and electricity at 26.11p/kWh for direct debit customers. The regulator also revised typical household consumption estimates downward, reflecting demand reduction.
Commodities Crude Oil Futures Rise After US-Iran Attacks, Ceasefire Agreed Ahead of Qatar Talks
Crude oil futures climbed on Monday following US-Iran attacks in West Asia, with September Brent at $73.27 (up 0.92%) and August WTI at $70.05 (up 1.18%). A reported ceasefire and upcoming talks in Qatar eased immediate fears, but the Joint Maritime Information Centre raised the Strait of Hormuz threat assessment to 'substantial', keeping supply risks alive. ING Think analysts noted complacency in the market and highlighted significant upside risk if supply recovery is slow or re-escalation occurs.
Commodities Crude Oil Futures Decline on Expectations of Higher Global Supplies Following US-Iran Peace Deal
Crude oil futures fell on Wednesday morning on expectations of increased global supplies after a proposed US-Iran peace deal. The interim agreement, expected to be signed Friday, would allow Iran to sell oil and reopen the Strait of Hormuz. According to a Reuters report cited by The Hindu BusinessLine, the deal includes the US ending its blockade of Iran's ports.
Commodities Oil shock to inflation risk: How Middle East war is reshaping India's economic outlook
The Iran war is causing a severe oil shock for India, the world's third-largest oil importer. Benchmark crude surged to nearly $120/barrel, and natural gas prices rose 75%. The RBI now expects inflation to average 5.1% in FY27, up from 3.48% in April, and economic growth to slow to 6.6% from 7.7%. Supply disruptions at the Strait of Hormuz and higher fertiliser costs are compounding risks for key crops like wheat amid a potential El Nino.