EU Says Energy Costs Tied to Hormuz Crisis Have Surged Past $35B
17 Articles
17 Articles
The European Commission is working to prepare different scenarios for potential supply problems.
Jet fuel supplies are dwindling. The head of the International Energy Agency, Fatih Birol, recently warned that Europe has about six weeks left before it runs out of fuel due to the conflict in the Middle East. If his prediction comes true, Europe will be without fuel at the turn of May and June. The European Union is therefore preparing for the worst-case scenarios, said Energy Commissioner Dan Jörgensen.
The conflict in the Middle East has pushed energy prices up, and the European Union's Commissioner for Energy finds clear words about the current situation.
"The world is facing what could be said to be the most serious energy crisis in history, one that is testing the resilience of our economies...
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