Another flare-up in the Middle East, combined heat waves during the peak tourism season and Europe’s push to replenish natural gas reserves before winter is driving a new wave of increases across the energy sector and deepening uncertainty in global markets.

Traders fear that they’re going to need to permanently price in instability in the Strait of Hormuz as shortages loom and Asian demand heats up.

European natural gas prices rise to a four-month high amid Middle East tensions. Crude oil reaching a new all-time high by September 30 at 6.2% YES.

Another flare-up in the Middle East, combined heat waves during the peak tourism season and Europe’s push to replenish natural gas reserves before winter is driving a new wave of…