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Affected by the ongoing escalation in the Middle East situation and the sharp rise in international energy prices, major European stock markets declined in the early trading session on the 9th, while European bond yields rose. International oil and gas prices surged due to rising energy supply risks caused by disruptions in shipping through the Strait of Hormuz. The price of European benchmark natural gas futures, the Dutch TTF natural gas futures, rose by around 30% upon opening on the 9th, reaching 69.50 euros per megawatt-hour. London Brent crude oil futures prices briefly approached $120 per barrel before falling back to around $107. Soaring energy prices have heightened concerns over inflation and economic prospects, leading to general declines in European stock markets at the opening. The FTSE 100 index on the London stock market in the UK dropped by more than 1.7% at one point, the CAC 40 index on the Paris stock market in France fell by around 2.4%, and the DAX index on the Frankfurt stock market in Germany dropped by 2.5% at one point. At the same time, European bond yields rose. The yield on 10-year UK government bonds rose to around 4.76%, the yield on 2-year UK government bonds rose to around 4.14%, and the yield on 10-year German government bonds rose to around 2.89%. Anna Kaisa Itkonen, a spokesperson for the European Commission, said on the 9th that the EU is closely monitoring rising energy prices. She said that the oil reserves, or equivalent energy reserves, of EU member states are sufficient to meet demand for about 90 days. “Compared to supply security, we are more concerned about high energy prices at the moment.” ” According to media reports, the G7 is discussing coordinating the release of strategic oil reserves if necessary, in order to stabilize the global energy market.