ECB's Schnabel Says Gas Prices Stay 40% Above Pre-War Levels as Middle East Truce Looks Fragile
Updated
Updated · Bloomberg · Jul 6
ECB's Schnabel Says Gas Prices Stay 40% Above Pre-War Levels as Middle East Truce Looks Fragile
2 articles · Updated · Bloomberg · Jul 6
Summary
Gas prices are still about 40% above pre-war levels, Isabel Schnabel said, arguing Middle East peace efforts have not returned markets to their pre-conflict baseline.
Oil has fallen rapidly since the latest peace push, but Schnabel said that drop does not mean conditions are back to normal because the deal remains fragile.
Longer-dated market pricing still points to higher oil prices over time, suggesting investors continue to build in geopolitical risk despite the easing in spot energy prices.