European Union energy ministers will meet in Luxembourg on Thursday to discuss energy supply concerns and price pressures. The Transport, Telecommunications and Energy Council is expected to address the conflicts in the Middle East, including the war with Iran, as well as Russia’s actions in Ukraine and longer-term climate issues. Prediction markets see an increased likelihood that oil prices will rise above $80, potentially affecting political forecasts connected to the U.S. Senate elections. The combination of oil remaining below $80 on November 2 and a Republican Senate victory is currently priced at just 1 %. Measures to strengthen energy security, any de-escalation of conflicts and changes in OPEC production could reshape market expectations.
Source: Read the original article
