Global energy markets traded mixed on June 8, with crude oil and Brent crude posting gains amid strengthening demand expectations and geopolitical uncertainties, while natural gas prices declined sharply.
According to market data, Crude Oil rose 0.84% to $91.31 per barrel, while Brent Crude gained 1.39% to $94.38 per barrel. Both benchmarks have delivered strong year-to-date gains of over 55%, highlighting continued strength in global oil markets.
In contrast, Natural Gas fell 2.85% to $3.14 per MMBtu, extending its weakness despite remaining higher on a monthly basis. The decline came as traders assessed supply-demand dynamics across key markets.
Among other energy commodities, Coal advanced 1.68%, while TTF Gas and UK Gas surged 3.69% and 3.83%, respectively. Naphtha climbed 1.60%, and Methanol gained 2.95%, indicating broad-based strength across several industrial energy products.
On a year-on-year basis, Heating Oil emerged as one of the strongest performers, rising 67.11%, followed by UK Gas (47.06%), Gasoline (46.20%) and Coal (44.25%).
The rise in crude oil prices is likely to remain a key factor for inflation, fuel costs and energy-importing economies, including India, as markets continue to monitor global supply conditions and geopolitical developments.
