Amman, Sept. 27 (Petra) -- Continued regional tensions, the Russia-Ukraine war and disruptions to transport and supply routes, shipping lanes and refineries are placing mounting pressure on global energy markets and pushing oil and gas prices higher, economic expert Munir Diyeh said Sunday.

Diyeh explained that prolonged crises would keep global oil prices elevated, particularly as winter approaches and demand for energy rises.

He attributed the price pressures to damage to refineries and production and supply lines, as well as difficulties transporting energy to global markets.

Disruptions to strategic reserves in major industrialized countries, concerns over oil supplies and reduced shipping through the Bab al-Mandab and Strait of Hormuz have also affected freight movement and driven up marine insurance costs, he pointed out.

These developments have contributed to tighter global energy supplies and higher prices, while reducing some countries’ ability to meet market demand at pre-crisis levels, Diyeh added.

Diesel has been among the petroleum products most affected by current global market developments due to reduced refining capacity at several refineries, he said.

Diyeh noted that global diesel demand is rising because of its widespread use in transport, industry and other sectors, while production and refining capacity remain under pressure.

He expected the approaching winter to further increase global diesel demand, potentially pushing prices higher. He stated that continued disruptions to refineries and supply lines would remain key factors affecting the global diesel market.

//Petra// AJ