Trump’s Russia tariffs threaten to deepen Europe’s LNG squeeze

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Trump’s Russia tariffs threaten to deepen Europe’s LNG squeeze

Crude oil all time high predictions

by
Estefano Gomez

Sep. 23, 2026

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Photo by Jan Zakelj

Recent US tariffs on Russian energy imports have introduced potential strains on Europe’s liquefied natural gas (LNG) market. This move could disrupt Europe’s LNG supplies and impact companies involved in servicing Russian vessels. The tariffs come amid already tightening conditions, with Europe’s LNG storage at 67% capacity, below levels from the previous year. The EU’s regulations phasing out Russian LNG imports further contribute to the precarious supply situation, heightening the sensitivity to any additional disruptions.

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In the prediction markets, this development has been linked to increased probabilities of crude oil reaching a new all-time high. Disruptions in LNG supply could lead to greater demand for crude oil as an alternative energy source. Market data shows a slight increase in odds for crude oil hitting a new high by December 31, now priced at 11% YES, up from 10% just 24 hours prior.

Key Takeaways

• The new US tariffs appear to suggest potential disruptions to Europe’s current LNG supply chain.
• Market activity indicates a slight increase in the likelihood of crude oil reaching a new all-time high by the end of the year.
• Europe’s current gas storage levels and regulatory environment may exacerbate the impact of any supply disruptions.

What to Watch

Watch for any official responses from European energy regulators and companies affected by these tariffs, as they could influence LNG market stability. Observers should also monitor OPEC’s actions and statements from key figures such as the Saudi Minister of Energy, which could affect crude oil supply expectations. The coming months may reveal whether these tariffs lead to increased crude oil demand, potentially driving prices higher.

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Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.