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News & Current Events Apr 1, 2026 at 4:19 AM

Oil and gas prices won't immediately return to normal even if the Iran war ends, the EU warns

Posted by Signal-Initial-7841

Oil and gas prices won't immediately return to normal even if the Iran war ends, the EU warns
AP News
Oil and gas prices won't immediately return to normal even if the Iran war ends, the EU warns
The European Union's energy commissioner says skyrocketing oil and gas prices in Europe as a result of the ongoing Iran war won’t return to normal levels any time soon, even if peace is declared tomorrow.
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whiteb8917 Apr 1, 2026 +108
The effects of the war as it stands today, could take at least 12 months to flow on to the end user, if it stopped, TODAY.
108
DD4cLG Apr 1, 2026 +37
If stopped today, will take an optimistic 3 years up to 5 years to rebuild the infrastructure, for Qatar only. According to their responsible minister on a press conference last week. After that, the money lost in meantime needs to be recovered as well. So this is a fundamental change in oil and gas prices.
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PresumedSapient Apr 1, 2026 +12
> the money lost in meantime needs to be recovered as well That's a lie, it's just the priority of those having to pay for the repairs.  Who cares about the billions they made already? A true capitalist never takes a loss!
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DD4cLG Apr 1, 2026 +7
You forget the /s The state of Qatar estimates an annual loss of >20 billion USD annually on LNG sales only. Add the costs of reparing the multi billion dollar LNG facility. Similar numbers to be expected for their oil exports. That deficit runs up afte 3-5 years easily to 120-180 billion USD. Now tell me how they are taking the loss. By not raising the oil and gas prices? As they are setting the market price, together with several OPEC members who suffered from the same shit.
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LifeGainsss Apr 1, 2026 +5
Hot take, but honestly, the next US administration should just pay that debt off for them. An extra $150 bil on the national debt to repair the damage Trump did? Seems fair to me (as a non American)
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thefunkybassist Apr 1, 2026 +10
With the first payments directly from liquidating all Trump assets and accounts
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Zedilt Apr 1, 2026 +2
And up to 10 years before barrel prices are down to pre war levels.
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RaggaDruida Apr 1, 2026 +1
Add to that that the normal construction of offshore wind farms takes from 3 to 5 years, of utility-scale solar from 1 to 3 years, of pump hydro storage from 4 to 6 years. And all of those also offer sovereignty benefits and better economic scaling. I don't know if this will be "THE" pivot point, but it does certainly look like an inflexion point for the death of oil and gas as a profitable industry in most of the world.
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fallwind Apr 1, 2026 +5
I think you mean years, not months. It takes a long time to rebuild infrastructure liker this
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Rubicon2-0 Apr 1, 2026 +1
For what I see its up to the national reserves, because some countries are about to start using their own (which is different for each country like 50-120 days). So... basically we will feel the damage from US war in the end of the summer, maybe? or mid Autumn>
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Perfect-Nail9413 Apr 1, 2026 +1
I hear 2 to 5 years.
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008Zulu Apr 1, 2026 +90
People are paying the inflated prices now, what's makes them think that Big Oil is going reduce the prices back to what they were once this is behind us?
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denNISI Apr 1, 2026 +16
You know the answer.
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aholetookmyusername Apr 1, 2026 +17
Go EV to spite the oil companies.
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[deleted] Apr 1, 2026
[deleted]
0
Edward_TH Apr 1, 2026 +1
They do, they're called trains.
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ididntseeitcoming Apr 1, 2026 +10
Raise it a dollar a gallon, people outrage but still pay, wait a month or two, reduce it 25 cents and you’re a hero. Every corpo on earth realized this during COVID with “supply chain problems”. There is next to no cap on gas prices. People need it to survive.
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xParesh Apr 1, 2026 +3
It not that. Once oil supply chains break, its can take years to get everything back together and moving again. If the war stopped today it would be one year minimum for everything to be back how it was before it all started.
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SoulCoughing97 Apr 1, 2026 +7
In countries like South Africa it's not even up to the petroleum companies, the government sets the price to prevent gouging. 🇿🇦
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Nichoros_Strategy Apr 1, 2026 +1
Sounds like an arbitrage opportunity
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CanadianTrollToll Apr 1, 2026 -13
Big Oil isnt one large company. Im not sure why people on Listnook wear tinfoil hats all the time. Your tbought process is that because prices are high they'll never come down because profits. If that was the case, why did oil prices ever drop?
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No_Salamander6852 Apr 1, 2026 +8
Historically gas prices take days/weeks to go up and months to go down. Even if the reason was nothing but speculation and nothing was actually wrong. All these companies are looking at each other to see who moves first (oligopoly). Usually it takes pressure from a major government to get things moving downward.
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CanadianTrollToll Apr 1, 2026
Yet prices do go up, and prices do go down. The person I replied too implied that prices never go back down because corporations are greedy.
0
TR_Pix Apr 1, 2026 +2
That's a nice theoretic rethoric, but unfortunately we have real world experience that the prices never go down.
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CanadianTrollToll Apr 1, 2026
Yes.... over a period of time prices go up - welcome to inflation. If you actually look at a graph which takes seconds, you can see that oil prices do go up and down, and the price at the pump goes up and down. If the person was right who I replied too, you'd never see a drop - because GREED - right? Yet.... prices do fluctuate.
0
aholetookmyusername Apr 1, 2026 +19
It will take years to rebuild destroyed infrastructure, renegotiate contracts and restore faith. Hopefully the world learns from this.
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UsedToHaveThisName Apr 1, 2026 +25
I have some bad news for you on the learning from this part.
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Several_Ant_9867 Apr 1, 2026 +5
This time we have technological solutions that are pretty c**** though. The demand destruction will be permanent
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Final-Golf7631 Apr 1, 2026 +28
If there only was an alternative nearly limitless energy source to oil and gas...
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PresumedSapient Apr 1, 2026 +24
What if we had a giant fusion reactor in space and just wirelessly send the power to everyone on earth?
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iwalkintoaroom Apr 1, 2026 +17
The existence of such a thing would definitely brighten up my day
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eggybread70 Apr 1, 2026 +12
It would certainly radiate a lot of joy.
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crc_73 Apr 1, 2026 +5
Ironically, it's a giant orange blob.
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Timgo96 Apr 1, 2026 +5
*Ionically
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vivekadithya12 Apr 1, 2026 +1
This reminds me of a total conspiracy theory purported by my grad school professor - that the Pyramids of Giza are actually a wireless power plant that vibrates with the earth's natural frequency. Madlad literally made us read a [book](https://www.amazon.in/Giza-Power-Plant-Technologies-Ancient/dp/1879181509) about it
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M8753 Apr 1, 2026 +1
Yep, it's impossible to talk about green energy with conspiracy theorists, cause they just go "solar panels are evil! Nicola Tesla invented free infinite electricity and the government is just hiding it from us".
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Loki-L Apr 1, 2026 +5
Yes, the pictures of blown up oil infrastructure somehow suggested that this wouldn't all immediately return to normal.
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PossiblePlastic8698 Apr 1, 2026 +38
Israel and the US should have to pay reparations to any country affected by their dumbass war
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ErgoMachina Apr 1, 2026 +15
So...the whole planet? Every single human being in this world, except our billonare kings, will deeply suffer from this.
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PossiblePlastic8698 Apr 1, 2026 +1
Sounds good to me
1
84Cressida Apr 1, 2026 -7
I always have to remind myself there’s a lot of young naive kids on this site.
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Icy_Walrus_5035 Apr 1, 2026 +5
No it’s fair. Israel lied they should be paying reparations it’s only fair.
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TemporarySun314 Apr 1, 2026 +3
If a country would need to pay reparations everytime their leadership blatantly lies, the US would have been completely broke already after Trump's first term...
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TR_Pix Apr 1, 2026 +1
You do sound like someone who would have memory problems.
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cxmmxc Apr 1, 2026
It also has a lot of chuds who spam 120 comments a week on r​/worldnews that look like they're from the keyboard of a 40-year-old basement dweller who complains about kids with a Pokemon avatar.
0
VanCityPhotoNewbie Apr 1, 2026 +8
Ya you can't reverse blown up LNG and Oil infrastructure like you can with Tariffs. Can't TACO your bum out of this one you oranage fat @#$$.
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cowfreak Apr 1, 2026 +3
And that's cos the 'invisible hand' of the market always has its middle finger extended
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Fun-Poet5338 Apr 1, 2026 +2
Well, yeah.
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madmaxGMR Apr 1, 2026 +2
More like not in your lifetime.
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zumera Apr 1, 2026 +4
Then maybe you should work on pressuring Israel and the US to end it before they make things even worse?
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mak05 Apr 1, 2026 +3
"get an EV". Bros, do we really have to explain the entire logistic chain? If so, stop commenting on the internet about this matter.
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I_R0M_I Apr 1, 2026 +1
It's funny how they immediately increase in price though isn't it.
1
takesthebiscuit Apr 1, 2026 +1
That IF is weighing heavy on that statement
1
Redtex Apr 1, 2026 +1
Man, I bet Bezos is really hoping he can get Slate trucks out real quick. He would make a fortune. Hmm 🤔
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Head_Summer2052 Apr 1, 2026 +1
Don't worry. The prices might come down a bit but not for long. It is going to be a new standard as usual.
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fsactual Apr 1, 2026 +1
On the plus side, green initiatives just got an ammunition resupply.
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fuers Apr 1, 2026 +1
So much winning for the whole world becouse of the dumb americans. Srsly i just hope they will feel the same pricea spikes as we all do around the world. Then they should be winning even bigger.
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Emergent_Phen0men0n Apr 1, 2026 +1
Translation: 5/gal forever.
1
Carpenterdon Apr 1, 2026 +1
No shit Sherlock. Why is media just posting articles about what anyone with half a brain cell already knows?
1
Thoraxekicksazz Apr 1, 2026 +1
No shit. The orange one is giving away the US petroleum reserves and it will take years to replenish which will mean gas prices will continue to stay high for years. Thanks asshat republicans.
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kamcknig Apr 1, 2026 +1
Even if everything else about the war went back to normal, I seriously doubt prices would go down. History has shown that once any price goes up it rarely comes down. It'll be normalized soon
1
NEOK53 Apr 1, 2026 +1
Duh, the Epstein class loathe giving up profits. They’ll string it along as long as possible to gouge the peasantry as much as they can.
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axlgreece5202 Apr 1, 2026 +1
$10 a gallon by Christmas.
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Ticrotter_serrer Apr 1, 2026 +1
It will not happen.The world is going renewal with China now. At least China never threatened my country.
1
JohnBrownSurvivor Apr 1, 2026 +1
Prices never come down. Everything is an excuse to raise prices. Nothing is a reason to lower them. If a tree falls in the woods and no one hears it, they still use it as an excuse to raise prices.
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circlehead28 Apr 1, 2026 +1
Here before “Why hasn’t [insert name of next democrat president] done enough to drop gas prices!?”
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Mediocre_Presence839 Apr 1, 2026 +1
What if and I mean what if the oil people were notified if they do not reduce the price that it will be nationalized. No more speculation, no more price gouging. Supposedly the USA is one of the chief exporters of oil.
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PapaOoMaoMao Apr 1, 2026 +4
Nothing will. Prices go up but they never go back down to where they were. Let the gouging begin. Profiteering, enshittification and shrinkflation hav been a thing for a long time. There's no sign it's going to slow down.
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AnyEmployment4054 Apr 1, 2026 +2
Price of gas in Sweden went down significantly after the spike after 2022.
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PapaOoMaoMao Apr 1, 2026 +1
Back to it's original or just down from the high?
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Quizen Apr 1, 2026 +3
[https://drivkraftsverige.se/fakta-statistik/priser/](https://drivkraftsverige.se/fakta-statistik/priser/) Source in swedish, but there is some diagrams there. In short Försäljningspris vid pump av bensin i Sverige – per månad (Selling price at the pump of gasoline in Sweden – per month): 2020-12: 14.11SEK/L 2021-12: 17.35SEK/L 2022-06: 23.54SEK/L 2022-12: 18.89SEK/L 2023-12: 18.54SEK/L 2024-12: 17.35SEK/L 2025 average gasoline price: 15.99SEK/L Only have average gasoline price for 2025, not per month statistics yet. But it was pretty much down to 2020 levels. And here we are again
3
cxmmxc Apr 1, 2026 +1
Admittedly just down from the high, but Europe also kinda stopped dealing with a major oil exporter in the meantime, so the supply and demand equation isn't quite the same as pre-2020.
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Euphoric-Animator-97 Apr 1, 2026 +1
I’m still waiting for the prices to go back from COVID ending. Any day now… right?
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Zealousideal_Yak_671 Apr 1, 2026 +1
Adam Smith didnt know much about greed and orange idiots when he wrote Wealth of Nations.
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AccordingInsect3481 Apr 1, 2026 -6
Got a kick ass ev. I like to pull up to gas pumps next to dingalings with Big Trucks and say, "OOPS, I HAVE AN EV - I FORGOT THAT I DON'T NEED GAS" and drive away.
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