Russia’s leading indices rose as the main trading session started
The gas price in Europe jumped by 20% as Monday trading opened amid the US-Israeli military operation against Iran, according to data from London’s ICE.
The Financial Times (FT) newspaper reported that the conflict in Iran could push oil prices toward $80-100 per barrel.
Russia’s leading indices rose as the main trading session started, according to trade data.
The European Union’s coordination group on gas will hold a meeting on Wednesday, March 4, to assess the consequences of the conflict in the Middle East for energy supplies, Reuters reported, citing a European Commission spokesperson.
TASS has compiled the main facts on the situation in the energy market.
Gas
– The gas price in Europe surged by 20% as trading opened amid the US-Israeli military operation against Iran, according to data from London’s ICE.
– The price of April futures contracts at the TTF hub in the Netherlands rose to around $470 per 1,000 cubic meters, or 38.67 euro per MWh (based on the current exchange rate of euro to dollar, figures for ICE are presented in euros per MWh).
– Prices of gas futures contracts in Europe are at their highest levels since late January.
– The European Union’s coordination group on gas will hold a meeting on March 4 to assess the consequences of the conflict in the Middle East for energy supplies, Reuters reported, citing a European Commission spokesperson
– The price of gas on the exchange in Europe has surpassed $550 per 1,000 cubic meters first since February 2025 as Qatar suspended LNG production due to the US and Israel’s military operation against Iran, according to data from London’s ICE.
Oil
– The price of futures contracts of Brent crude oil for May 2026 delivery on London’s ICE has slowed its rise to $77.11 per barrel after exceeding $82 as the trading session opened amid escalation in the Middle East, according to trading data.
– The oil price in Japan has reached the highest level since February 2025, according to trading data from the Tokyo Commodity Exchange.
– The Ministry of Petroleum and Natural Gas of India is monitoring the situation in the Middle East and will take measures to supply the country with essential petroleum products, the ministry’s press office said following a meeting on the current events in the Middle East and their implications for the energy market.
– Gasoline prices have already started to rise in Ukraine due to the situation in the Middle East, Ukrainian lawmaker Anna Skorokhod said.
– State-owned oil and gas company Qatar Energy has announced suspension of production of LNG and related products due to Iran’s air strikes.
Stock indices
– Russia’s stock market gained as the main trading session started, according to trade data.
– The MOEX Index with additional IMOEX2 ticker added 1.29% as the morning trading session opened on the Moscow Exchange on Monday to 2,835.37 points, according to trading data as of 7:00 a.m. Moscow time (4:00 a.m. GMT).
– Trading on Asia’s largest Tokyo Stock Exchange opened with falling futures amid escalation in the Middle East, according to trade data.
– The main indices of the Shanghai and Shenzhen stock exchanges, Shanghai Composite and Shenzhen Component, dropped 0.27% and 1.16%, respectively, at session open.
– Hong Kong’s financial market showed declines in early trading following the start of US and Israeli attacks on Iran. The key Hang Seng Index fell by 1.21% (down 322.46 points) to 26,308.08 points.
– Indian stock markets opened the trading week with notable losses amid worsening situation in the Middle East, The Hindu newspaper reported.
– The Bombay Stock Exchange (BSE) Sensex index lost more than 2,700 points. The Nifty (National Stock Exchange of India) index dropped below 24,645 points, demonstrating a sharp decline from the previous close.
– The London Stock Exchange’s FTSE100 index is down against the backdrop of US and Israel’s military operation against Iran. As of 9:30 a.m. GMT (12:30 p.m. Moscow time) the decline amounted to 0.9%, according to trade data.
– The main Frankfurt Stock Exchange’s DAX index lost more than 2% due to the situation in the Middle East, according to data published on the trading platform’s website.
– Shares of the largest Indian defense companies have risen sharply in the stock market amid worsening situation in the Middle East, The Times of India reported.
Precious metals
– Prices of futures on precious metals — platinum, palladium, gold, and silver — on the New York Mercantile Exchange (NYMEX) and the Comex exchange (a division of NYMEX) rose as the trading week started amid the Middle East escalation, according to trade data.
– As of 2:42 a.m. Moscow time (11:42 p.m. GMT the previous day), the price of palladium futures for June 2026 delivery on NYMEX increased by 0.33% to $1,834.5 per troy ounce, while the price of platinum futures for April 2026 delivery rose by 1.72% to $2,414.4 per troy ounce.
– The price of silver futures for March 2026 delivery on the Comex exchange exceeded $95 per troy ounce for the first time since January 30, according to trade data.
– The price of gold futures for April 2026 delivery on the Comex exchange surpassed $5,300 per troy ounce for the first time since January 30, according to trade data.
Coal
– Prices for Russian energy coal in Far Eastern ports have increased by 5.4% year-to-date, and by 2.8% year-on-year, according to an analytical review by NEFT Research (obtained by TASS).
– A number of factors are contributing to the increase, including foreign political tensions, though the price growth is unlikely to last long, Maksim Krivelevich at the Far East Branch of the Russian Academy of Science told TASS.
– Industry experts also attribute the current spike in Russian coal prices in Asia to temporary phenomena.
Projections
– The US-Israeli military operation against Iran could cause a 25% rise in gas prices, the FT newspaper reported, citing Wood Mackenzie consultancy analyst Tom Marzek-Manser.
– He expects disruption of international shipping in the Strait of Hormuz to affect liquefied natural gas (LNG) supplies from Middle Eastern countries.
– Qatar and the UAE use this route to transport 20% of global LNG volumes to Asia and Europe, according to the report.
– According to Rystad Energy consultancy, the lack of de-escalation in Iran and the actual suspension of tanker movement through the Strait of Hormuz may trigger price growth of 20% at the start of the week.
– The price of Brent crude oil may exceed $100 per barrel amid the Middle East conflict, several experts told TASS.
– The FT also reported earlier that the conflict in Iran could push oil prices to $80-100 per barrel.
– Disruptions to LNG supplies from Qatar due to the blocking of the Strait of Hormuz against the backdrop of the military operation by the US and Israel against Iran will boost demand for Russian LNG in Asia, experts interviewed by TASS said.
– Disruptions to LNG supplies from the Gulf countries for even a couple of months could drive up prices in Europe above $600 1,000 cubic meters, Finam Financial Group’s analyst Sergey Kaufman told TASS.
– Russian oil producers will gain from rising oil prices due to the conflict in the Middle East, and possible disruptions in Iranian oil supplies will reduce the discount on Russian Urals oil, he said.
– Markets could lose 8-10 mln barrels of oil per day with sustained tensions and an actual halt in shipping amid a large-scale military operation by the US and Israel against Iran, Anastasia Levchenko, Researcher at the Gaidar Institute’s Industrial Organization and Infrastructure Economics Department, told TASS.
