Our Energy Chart Pack has been updated with the latest data and our analysis of recent developments.
Energy prices will remain historically high over the remainder of this year. The Israel-Hamas conflict has increased volatility in energy markets, but supply has not been disrupted. Oil prices will remain high as OPEC+ output cuts keep supply constrained. The natural gas market appears comfortably supplied and consumption remains subdued, which should keep prices low in y/y terms. Coal prices have fallen sharply in Asia but should be supported in the coming months by solid winter-related demand. Despite somewhat stronger economic activity, we expect energy prices to generally fall next year, mainly due to improved supply.
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