News Summary

• While oil surges again, the prices of diesel and natural gas are climbing even faster.
• Both sides show they could be gearing up for a protracted conflict.
• Europe's natural gas prices hit the highest since late 2022, the year of Russia's full-scale invasion of Ukraine.
• Traders and producers say the world needs oil heading into winter and refinery capacity is still constrained so that's going to keep stressing fuel costs."We're going to see a very difficult winter coming in Northern Europe," Shaikh Khaled Al-Sabah, managing director for international marketing at Kuwait Petroleum Corp said.