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Brent crude tops $100 per barrel as European gas hits multi-year high

European gas prices reached their highest level since January 2023 at about €79/MWh, according to Action Forex.

Reported · Written up by our desk · Energy

Brent crude broke above $100 per barrel for the first time since July 23, a move that lifts oil prices to the highest level since the end of May, according to Action Forex.

The outlet said taking out the July top around $102 per barrel puts the market at its highest point over that period, reinforcing the latest upward leg.

In Europe, European gas prices rose to their highest level since January 2023, reaching roughly €79/MWh, Action Forex reported.

The new price surge is unfolding alongside broader trend comments the outlet described as bearish flattening trends, with the implication that momentum has shifted higher.

Latest closeWTI crude $94.28 ▲3.1%|Brent $99.39 ▲3.2%

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