Consequences of fuel crisis to be felt for many months to come

Oil prices fell by 15% following the announcement of the US-Iran ceasefire. Brent crude settled at $92 per barrel.

Stock markets also greeted the news of the end of the war with optimism. The New York S&P 500 rose by 2.5%, while the Euro Stoxx 50 rose by 5.5%. Asian stock markets are also showing strong growth. Gas prices have also fallen significantly: they are trading at $530 per 1,000 cubic meters, down 15% from the previous day.

However, consumers should not be overly optimistic, as hydrocarbon prices could rise again at any moment, should the ceasefire in the Middle East be broken. But even without this, the consequences of the recent stock market panic will make themselves felt for many months to come – primarily through high prices at gas stations in Europe, Asia, and Latin America.