Europe lacks fuel reserve visibility as Iran war threatens shortages
Updated
Updated · POLITICO Europe · Apr 30
Europe lacks fuel reserve visibility as Iran war threatens shortages
10 articles · Updated · POLITICO Europe · Apr 30
In Brussels, Ursula von der Leyen said the conflict is adding nearly €500m a day to EU energy costs, while airlines ground planes and officials urge commuters to cut back.
The war risks choking supplies through the Strait of Hormuz, a vital route for oil and gas, as Donald Trump orders aides to prepare for a prolonged blockade of Iran.
DHL chief Tobias Meyer said Europe has supply visibility and commitments only into May and June, while strategic reserves exist but there is little clarity on how much has been used.
As Europe scrambles for fuel, is a far greater global food crisis being ignored?
Could the Hormuz crisis permanently reshape global trade and accelerate the end of the fossil fuel era?