Brent at 4-month high, EU gas +160% YTD; support measures imminent

Brent crude has risen to its highest level in four months amid the prolonged Middle East and Gulf crisis, while European natural gas prices have surged over 160% year-to-date, with TTF reaching €81/MWh. The energy price rally is straining European economies and household budgets, prompting governments to prepare new support measures ahead of the October EU Summit. The situation is developing, with the exact scope and timing of support measures still uncertain.