On Monday, the markets were trying to work out what the war meant for shares, energy prices and the world economy. Gas and oil prices, which were already on the rise, headed further into territory which – if sustained – indicate a nasty hit to prices and inflation. Much now depends not only on how the war spreads, but also on how long it lasts. If the war is over in a few weeks, then the wider economic impact will be limited. Then European prices peaked briefly at more than $300 per megawatt hour, but for the second half of 2022 generally remained well over $100.

Source: The Irish Times March 03, 2026 15:08 UTC