London, August 08, 2024, (Oilandgaspress) ––Gas prices in Europe have soared to their highest level this year following reports that Ukrainian forces have allegedly seized a key gas transit point in Russia’s Kursk region, according to Bloomberg.
Benchmark futures surged 4.8% to €38.45 a megawatt-hour, the highest level since December.
JPMorgan analysts reportedly projected Brent crude will be “close to $90 by September 2024,” flagging the strength of global demand.
For 2025, the firm predicts prices will fall to $63 per barrel by September 2025 amid rising global supply.
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $74.86 | Up |
| Crude Oil (Brent) | USD/bbl | $77.88 | Down |
| Bonny Light 07/08/24 | USD/bbl | $79.45 | Up |
| Saharan Blend | USD/bbl | $85.61 | — |
| Natural Gas | USD/MMBtu | $2.08 | Down |
| Murban Crude | USD/bbl | $76.76 | Down |
| OPEC basket 07/08/24 | USD/bbl | $76.65 | Up |
