Energy markets climbed on Tuesday as global supply concerns deepened. Oil prices rose due to fears of new sanctions on Russia, following the U.S. shortening its ceasefire deadline for the Ukraine conflict. At the same time, easing trade tensions supported prices. Brent crude jumped 3.5% to $72.51 per barrel, while WTI crude rose 3.8% to $69.21 per barrel.

Natural gas markets also saw gains. Increased global demand for liquefied natural gas (LNG), especially during hot weather driving cooling needs, pushed the NBP spot price up 4% to 82.65 pence per therm. On the futures side, the Winter 2025 contract rose 2.6% to 93.76 p/therm amid growing geopolitical uncertainty and pressure for quick peace talks between Russia and Ukraine.