The Officials Benchmarks |  Phizzling out! Skip to main content

 Phizzling out!

Dead North Sea... And ugly pump prices surging towards us! Europe's gas situation keeps looking worse as prices spike
Published: 17 July 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe
and
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, The Officials
Jorge Montepeque
Edition: Euro EditionVolume: 3Issue: 137
Share

Dead North Sea... And ugly pump prices surging towards us! Europe's gas situation keeps looking worse as prices spike

After the initial mega rally of Monday and Tuesday morning, crude moved very rangebound for the remainder of the week, oscillating gently between $84 and $87 but lacking any convicted direction – ending the week at the top of that range. The early-week rally was fuelled by stopouts, according to a source, and the market has felt rather lethargic for the rest of the week, likely as shorts who got burned licked their wounds and regrouped.

Premium Content

To continue reading this page, please login or subscribe now.

The Officials publish outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.

We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.

About Euro Edition

Benchmark reports published at the close of the trading day in London.

More News

What goes up must come down

Edition: Euro Edition
Prices have fallen as quick and as hard as they rose! The US and Iran continue to exchange blows whilst the Houthis try their hand at diplom
24 July 2026

Peering Eye 1.36

Edition: Peering Eye
The Red Sea has been deserted as we bring you ship tracking data from the Bab el-Mandeb while Dubai and Fujairah tanker counts surge.
24 July 2026

Back down under

Edition: Asia Edition
Brent is back below $100 and Murban mania continues! Trump's offered to pay for tanker damage incurred in the Straits with Iranian funds whi
24 July 2026