Why are oil and European gas prices up again, and will Brent crude futures and U.S. West Texas Intermediate continue to rise or fall soon? Analysts insights and market outlook

Oil prices increased on Monday after Iran issued new threats against energy infrastructure in the Middle East. Brent crude futures rose to around $113 per barrel, while U.S. West Texas Intermediate moved close to $100. European gas prices also surged, with the Dutch TTF contract rising to 62 euros per megawatt hour. The International Energy Agency (IEA) stated that the current crisis is more severe than the 1970s oil shocks, with supply losses estimated between 7 million and 10 million barrels per day. Iran has suggested it may deploy naval mines in the Strait of Hormuz and has released maps showing potential targets in Saudi Arabia, the UAE, Qatar, and Kuwait. A strike on Qatar's Ras Laffan complex has already reduced LNG capacity by 17%. The United States has issued a 48-hour ultimatum for the reopening of the Strait, though recent reports suggest a temporary postponement of military strikes amid ongoing diplomatic efforts.