Commodity price volatility adds uncertainty to global energy transition – The National

Commodity price volatility adds uncertainty to global energy transition – The National

Volatile commodity prices, fragmented economic growth and fragile geopolitics stemming from increased energy interdependence have emerged as top concerns that will add to the uncertainty of achieving the global energy agenda, according to the World Energy Council.

The volatility in hydrocarbon prices were the biggest critical concern across almost all regions in 2021, a 12 times increase from 2020, the World Energy Council said in its annual World Energy Issues Monitor on Thursday.

Record price increases in natural gas, driven by shortages and supply bottlenecks, particularly in the UK and Europe, have contributed to the climate of uncertainty. Northern European and Asian gas markets are also similarly affected.