economy
March 4, 2026
Gas in Europe at $700, growth of Russian stocks: impact of blocking Strait of Hormuz
The gas price growth since the beginning of the day has exceeded 30%
TL;DR
- European gas prices exceeded $700 per 1,000 cubic meters, a level not seen since January 2023.
- Statements about blocking the Strait of Hormuz contributed to the surge in gas prices.
- Russian stock markets, including the MOEX Index, experienced growth.
- Experts predict oil prices could exceed $100 per barrel and natural gas prices might double.
- Silver futures declined significantly, while gold futures showed a slight increase with potential for historic highs.
- Russia is anticipated to be a primary beneficiary of rising raw material prices.
- The European Union faces potential economic crisis and inflation if Middle East conflict persists.
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