European natural gas prices rose as supply uncertainty grew. Italy's Edison faces pressure after Qatar Energy extended a force majeure on 21 LNG cargoes through early September. This disruption coincides with intense summer heat across Europe, which is driving up cooling demand and forcing buyers toward the more expensive spot market.

Oil markets face a different set of pressures. Analysts at ttb wealth securities downgraded PT T Exploration and Production, slashing Brent oil price assumptions to $70 per barrel for 2027. This bearish outlook stems from geopolitical tensions in Iran and a lack of supply discipline from OPEC, leading to lower earnings forecasts for the Thai firm.

In Australia, Amplitude Energy is struggling under the weight of disappointing exploration results and soft spot prices. While Morgans notes the stock has dropped 57% from its February high, they maintain a buy rating. Investors are now weighing the risks of Australian gas reservation policies against potential value recovery at current depressed levels.