This is the best summary I could come up with:

Europe’s energy crisis continues to impact consumers as the volatile oil and gas markets remain under pressure from current conflicts and a weak global economy.

At one point, they rallied by 40% to touch an eight month high - and given the geopolitical conflict is happening against the backdrop of a slowing economy, it is imperative to ask what will be the direction of gas markets moving forward, especially in Europe?

In case of a full blown war, as estimated by Bloomberg Economics, we can see the global economy tipping into a recession wiping off $1 trillion and oil prices touching $150.

In Germany, the largest economy in Europe, business activity has contracted for the fourth month in a row, with both manufacturing and service sectors showing a decline as per the latest PMI figures.

Across the Channel, the United Kingdom, no longer a member of the EU, saw a decrease in business activity this month, raising alarms about a potential recession ahead of the Bank of England’s forthcoming interest rate decision.

Moreover, if energy prices continue to stay on the bullish end, then inflation, which finally seems to be coming down, will become sticky, adversely impacting the spending power that can subsequently put downward pressure on the retail sector, which is already in doldrums.

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