S04 Ep22 Energy Market Update: Crude climbs while Europe’s energy prices advance

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Oil reached a fresh yearly high as US-Iran tensions intensified, with Washington boosting military presence while leaving room for negotiations. Markets rallied after Trump suggested a 10–15 day window for a deal, though speculative positioning remains measured, with strong demand for high-strike call options signaling limited expectations of a major price surge. Meanwhile, European energy markets have also strengthened, with Summer 2026 gas and baseload power prices rising, partly driven by movements in emissions allowances.

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23 Feb English South Africa Business

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