#eu-energy-imports

#eu-energy-imports

"It's painful in the near term," said Michael Pearce, chief U.S. economist at Oxford Economics. "It's going to get more painful in April," when further gas price increases will lift inflation higher.

Petrol stocks averaged 44-47% across the country before the conflict, but fell to between 36-43% in the weeks following February 28, hitting a low of 36% on March 4, 6, and 7.

Airlines in Europe are bracing for fuel supply shocks caused by the war in the Middle East. The severity of the impacts on passengers will be determined in the coming days and weeks depending on whether a recently announced ceasefire between the United States and Iran holds.

"All the gas we import comes from a type of extraction that has environmental impacts and is 100 meters from the Mexican border," she noted, alluding to fracking projects in Texas.

The war in Iran must now become a line in the sand, because how we emerge from this crisis will define all of us for a generation. Instead of hoping to return to the world of 2008, we will forge a new path for Britain that strengthens our energy, our defence and our economic security in a new age.

"The start of the year has been extremely sluggish for German industry," said Elmar Voelker, an analyst at the bank LBBW, noting that "the fleeting hopes of a recovery that had emerged last autumn have evaporated for now."

A 'workable system' of transit and shipowner confidence in the security of the transiting vessels is essential. This includes availability of insurance for transiting vessels, facilitating commercial trade financing, and sustained outbound vessel transits through the Strait of Hormuz.

The sharp decline in oil prices following the announcement played a key role in lifting sentiment. Lower energy costs could help ease inflation pressures and support both consumer demand and corporate margins.

Major indices, including the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, all recorded gains, with the Nasdaq delivering its strongest weekly performance since November.

"agreement is a long-overdue step toward dismantling one of the Kremlin's most powerful economic weapons. Every cubic meter of Russian gas kept flowing into Europe has helped finance the missiles that strike Ukrainian cities. This Regulation, if implemented without loopholes, brings Europe closer to honouring its promise to end this deadly dependency."