UK oil and gas price spike as Gaza conflict leaves markets ‘on edge’

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UK oil and gas price spike as Gaza conflict leaves markets ‘on edge’
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Markets will remain on tenterhooks as the crisis unfolds, according to the International Energy Agency's World Oil Market Report

Markets will remain on tenterhooks as the crisis unfolds, according to the International Energy Agency’s World Oil Market Report

Oil prices are expected to reach $100 per barrel because of the volatile situation in the Middle East, the Iranian oil minister, Javad Owji, was quoted as saying by the ministry’s Shana news agency.Organisation of the Petroleum Exporting Countries The cost of natural gas is also rising, with UK wholesale gas prices hitting nearly 135p per therm, the highest level since mid-February.Demand for gas in Britain is set to grow as colder weather arrives and people switch on central heating.

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