Fuel prices in Europe rose after authorities refused Russian supplies, the World Bank said in its commodity market report. In the first half of 2026, Russian gas accounted for about 11% of supplies to the EU, the WB noted. The European Union's freeze on Russian LNG imports from January 2027 and most gas in pipelines in the third quarter of 2027, as well as declining North Sea production and disruptions from Norway, could increase Europe's dependence on LNG and increase price increases, the bank warned. By mid-October, fuel prices in Europe had almost tripled to pre-conflict levels, the WB added. Global energy prices will rise 32% in 2026 after three years of decline due to the war between the US and Iran, the World Bank said. The average Brent price will be $91 per barrel in 2026 compared to $69 in 2025, and will drop to $79 in 2027, the bank predicts. Global oil supply will fall by 5.2% - the biggest drop in more than four decades, not including 2020; Consumption will decrease by 2.5%. In an unfavorable scenario, the average Brent price in 2027 will reach $105 per barrel, the WB noted. Energopole at MAX.

Fuel prices in Europe rose after authorities refused Russian supplies, the World Bank said in its commodity market report. In the first half of 2026, Russian gas accounted for about 11% of supplies to the EU, the WB noted. The European Union's freeze on Russian LNG imports from January 2027 and most gas in pipelines in the third quarter of 2027, as well as declining North Sea production and disruptions from Norway, could increase Europe's dependence on LNG and increase price increases, the bank warned. By mid-October, fuel prices in Europe had almost tripled to pre-conflict levels, the WB added. Global energy prices will rise 32% in 2026 after three years of decline due to the war between the US and Iran, the World Bank said. The average Brent price will be $91 per barrel in 2026 compared to $69 in 2025, and will drop to $79 in 2027, the bank predicts. Global oil supply will fall by 5.2% - the biggest drop in more than four decades, not including 2020; Consumption will decrease by 2.5%. In an unfavorable scenario, the average Brent price in 2027 will reach $105 per barrel, the WB noted. Energopole at MAX.