"The EU is assessing 'all possibilities' including fuel rationing and releasing more oil from emergency reserves as it braces for a 'long-lasting' energy shock from the Middle East war."
"'This will be a long crisis . . . energy prices will be higher for a very long time,' Dan Jorgensen warned, indicating that critical products may face even worse conditions."
"'The near closure of the crucial Strait of Hormuz waterway and strikes on infrastructure in the Gulf have created chaos in energy markets, sending prices soaring and prompting long-term supply fears.'"
The US has launched a rescue operation following the downing of a fighter jet over Iran, marking a significant escalation in military tensions. Trump has vowed to target more Iranian infrastructure while nations seek to reopen the Strait of Hormuz. The EU is preparing for severe energy crises, including potential fuel rationing, as energy prices soar due to instability in the region. Experts warn that the ongoing crisis will lead to long-lasting impacts on energy markets and supply chains.
Read at Irish Independent
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