Summary
The European Union's energy commissioner said that oil and gas prices in Europe are expected to stay high for a while, even if the war in Iran ends soon. Although there are no immediate shortages in the EU, there is pressure on supplies of diesel and jet fuel.
Key Facts
- The EU's energy commissioner spoke about the impact of the Iran war on energy prices.
- Oil and gas prices in Europe have gone up due to the war in Iran.
- Prices are not expected to return to normal levels quickly, even if the conflict ends.
- Currently, there are no shortages of oil and gas in the EU.
- Diesel and jet fuel supplies are under pressure.
- Global gas markets are facing "increasing constraints."
- Electricity prices in Europe are higher as a result.
