Fuel prices may increase again. The market fears another escalation

The intensification of the conflict between Iran and the United States triggered another wave of increases on the raw materials market. The price of Brent crude oil exceeded $100 per barrel, reaching its highest level in over a month. Investors are reacting to the growing risk of supply restrictions and difficulties in maritime transport.

Yemen’s Houthis actively joined the military operations. They attacked tankers heading towards the Bab al-Mandab Strait, which forced some shipowners to change their routes. Longer cruises mean higher transport costs, which quickly translated into oil prices.

The market is afraid of attacks on energy infrastructure

An additional source of concern is possible impacts on Saudi energy infrastructure. Such a scenario could further limit the availability of the raw material and trigger another wave of increases in oil and fuel prices.

The situation in the Middle East remains one of the most important factors influencing the energy market. Any disruption to shipping or production in the region could lead to higher transport costs and a worsening supply outlook.

The EU has agreed on further sanctions against Russia

At the same time, ambassadors of European Union countries reached an agreement on the 21st package of sanctions against Russia. The new restrictions are intended to cover the Russian financial sector, cryptocurrencies, the arms industry and the so-called shadow fleet used to export oil.

The price limit on Russian oil is also to be maintained. Its goal is to limit the Kremlin’s revenues from the sale of raw materials. The new package of sanctions is intended to hit harder at the mechanisms that enable Russia to circumvent the existing restrictions.

Taxi companies are disappearing from the market

Changes are also taking place on the Polish transport market. According to data from Dun & Bradstreet, nearly 650 taxi companies disappeared from the market in the first half of the year. The traditional business model is increasingly losing to platforms such as Uber, Bolt and FreeNow.

At the same time, the importance of fleet companies operating in the gig economy model is growing. They employ drivers and operate journeys via the application. Experts predict that market consolidation will continue in the coming years.

Great Britain announces tax cuts

The new British government announced actions to stimulate local entrepreneurship. After the announcement of the abolition of VAT on electricity for households, a 20% tax cut is planned for pubs, clubs and venues offering live music.

The changes are intended to support the industry, which has been struggling with rising operating costs for several years. The government hopes that lower burdens will help companies improve their financial condition and maintain jobs.