Oil and gas prices are soaring this Friday, February 25, 2022. The price of a barrel of oil has crossed the 100 dollar mark, while the price of gas is approaching its historic record.

In recent days, the price of a barrel of Brent has crossed the 100 dollar mark for the first time since 2014. Same trend for WTI, the American benchmark for a barrel of oil, which is trading at 96 dollars, after a peak at more than 100 dollars in the morning. In its wake, the gas futures contract for the month of March also soared by more than 30%, reaching 116 euros per megawatt hour at the end of the day. At this stage, we are not very far from the historic record of 180 euros beaten at the end of December. However, for the experts, this surge in prices is not over. However, the very high prices are likely to undermine demand. In France, the government plans to extend the gas price freeze for individuals until the end of 2022. But other solutions may prove necessary because the situation is likely to last.